MidCap Financial Investment (NASDAQ:MFIC) Given New $11.00 Price Target at Royal Bank Of Canada

MidCap Financial Investment (NASDAQ:MFIC) had its price objective decreased by Royal Bank Of Canada from $13.00 to $11.00 in a report released on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other brokerages have also commented on MFIC. Weiss Ratings reiterated a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods cut their target price on MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Monday, November 10th. Wells Fargo & Company decreased their target price on MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating for the company in a research report on Monday. Truist Financial decreased their price target on shares of MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Zacks Research raised MidCap Financial Investment from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.96.

MidCap Financial Investment Price Performance

MFIC stock opened at $10.55 on Thursday. The business has a 50 day moving average price of $11.20 and a 200 day moving average price of $11.82. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 1.53. The stock has a market cap of $972.82 million, a price-to-earnings ratio of 15.99 and a beta of 0.78. MidCap Financial Investment has a fifty-two week low of $9.48 and a fifty-two week high of $13.51.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of ($1.38) million for the quarter, compared to analysts’ expectations of $78.87 million. MidCap Financial Investment had a net margin of 19.69% and a return on equity of 10.43%. Equities research analysts anticipate that MidCap Financial Investment will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date of this dividend is Tuesday, March 10th. MidCap Financial Investment’s dividend payout ratio (DPR) is 230.30%.

Institutional Trading of MidCap Financial Investment

A number of large investors have recently made changes to their positions in MFIC. Northwestern Mutual Wealth Management Co. boosted its position in MidCap Financial Investment by 730,509.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,113,333 shares of the company’s stock worth $47,057,000 after acquiring an additional 4,112,770 shares during the last quarter. Thornburg Investment Management Inc. boosted its holdings in MidCap Financial Investment by 6.8% in the 3rd quarter. Thornburg Investment Management Inc. now owns 3,137,783 shares of the company’s stock worth $37,622,000 after acquiring an additional 200,000 shares during the period. Van ECK Associates Corp boosted its stake in shares of MidCap Financial Investment by 5.1% in the third quarter. Van ECK Associates Corp now owns 2,511,678 shares of the company’s stock valued at $30,115,000 after purchasing an additional 121,523 shares during the period. UBS Group AG boosted its position in MidCap Financial Investment by 19.0% in the 4th quarter. UBS Group AG now owns 2,024,312 shares of the company’s stock valued at $23,158,000 after buying an additional 323,137 shares during the last quarter. Finally, Next Capital Management LLC grew its stake in MidCap Financial Investment by 10.6% during the 4th quarter. Next Capital Management LLC now owns 1,484,349 shares of the company’s stock valued at $16,981,000 after purchasing an additional 142,764 shares in the last quarter. Institutional investors and hedge funds own 28.45% of the company’s stock.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.