MidCap Financial Investment (NASDAQ:MFIC) Releases Earnings Results, Beats Estimates By $0.06 EPS

MidCap Financial Investment (NASDAQ:MFIC) issued its quarterly earnings data on Wednesday. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.32 by $0.06, Zacks reports. The company had revenue of ($17.79) million during the quarter, compared to analysts’ expectations of $74.62 million. MidCap Financial Investment had a net margin of 1.90% and a return on equity of 10.51%.

MidCap Financial Investment Price Performance

MFIC traded down $0.07 during trading on Friday, reaching $11.79. The stock had a trading volume of 372,017 shares, compared to its average volume of 980,711. The business has a 50-day moving average of $11.13 and a 200-day moving average of $11.46. MidCap Financial Investment has a one year low of $9.48 and a one year high of $13.51. The company has a debt-to-equity ratio of 1.53, a quick ratio of 6.65 and a current ratio of 6.65. The stock has a market cap of $970.73 million, a PE ratio of 294.70 and a beta of 0.63.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be given a $0.31 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $1.24 annualized dividend and a yield of 10.5%. MidCap Financial Investment’s payout ratio is 187.88%.

Analyst Upgrades and Downgrades

Several research analysts have commented on MFIC shares. JPMorgan Chase & Co. cut their price target on shares of MidCap Financial Investment from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Keefe, Bruyette & Woods lowered their price objective on MidCap Financial Investment from $13.00 to $11.50 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Wells Fargo & Company dropped their price objective on MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Truist Financial reduced their target price on MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, Wall Street Zen raised MidCap Financial Investment from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.54.

Hedge Funds Weigh In On MidCap Financial Investment

Hedge funds and other institutional investors have recently modified their holdings of the company. Caxton Associates LLP purchased a new position in shares of MidCap Financial Investment during the 1st quarter valued at about $166,000. Quantbot Technologies LP purchased a new stake in MidCap Financial Investment in the second quarter worth approximately $230,000. NewEdge Advisors LLC grew its position in MidCap Financial Investment by 4.3% during the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock valued at $308,000 after acquiring an additional 1,000 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of MidCap Financial Investment during the second quarter worth approximately $191,000. Finally, Ameriprise Financial Inc. raised its stake in shares of MidCap Financial Investment by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company’s stock worth $5,081,000 after acquiring an additional 57,406 shares in the last quarter. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Company Profile

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.