MidCap Financial Investment (NASDAQ:MFIC) Releases Quarterly Earnings Results, Misses Expectations By $0.56 EPS

MidCap Financial Investment (NASDAQ:MFIC) issued its earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.56), FiscalAI reports. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. The firm had revenue of $61.98 million for the quarter, compared to the consensus estimate of $64.43 million.

MidCap Financial Investment Stock Down 0.1%

Shares of MFIC stock traded down $0.01 during mid-day trading on Friday, hitting $10.26. 755,447 shares of the stock traded hands, compared to its average volume of 826,579. MidCap Financial Investment has a 52-week low of $8.11 and a 52-week high of $12.34. The stock has a market cap of $845.15 million, a P/E ratio of -28.50 and a beta of 0.59. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.78 and a quick ratio of 3.78. The stock’s fifty day moving average is $9.10 and its two-hundred day moving average is $10.24.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Tuesday, December 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Tuesday, December 8th. MidCap Financial Investment’s dividend payout ratio is presently -344.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MFIC. Russell Investments Group Ltd. boosted its holdings in MidCap Financial Investment by 2.7% in the third quarter. Russell Investments Group Ltd. now owns 1,172,112 shares of the company’s stock worth $10,244,000 after acquiring an additional 30,393 shares in the last quarter. Lido Advisors LLC grew its stake in shares of MidCap Financial Investment by 12.4% during the third quarter. Lido Advisors LLC now owns 78,125 shares of the company’s stock worth $683,000 after acquiring an additional 8,596 shares during the last quarter. Beverly Hills Private Wealth LLC purchased a new stake in shares of MidCap Financial Investment during the third quarter worth about $227,000. Kestra Advisory Services LLC acquired a new position in shares of MidCap Financial Investment during the third quarter valued at about $158,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of MidCap Financial Investment by 15.6% during the third quarter. Commonwealth Equity Services LLC now owns 21,685 shares of the company’s stock valued at $190,000 after acquiring an additional 2,929 shares in the last quarter. Hedge funds and other institutional investors own 28.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Raymond James Financial lowered shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 28th. Weiss Ratings downgraded shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company cut their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada reduced their price objective on shares of MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 12th. Finally, Truist Financial lowered MidCap Financial Investment from a “buy” rating to a “hold” rating and lowered their target price for the stock from $12.00 to $11.00 in a report on Monday. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $10.39.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.