MidCap Financial Investment (NASDAQ:MFIC) Price Target Raised to $11.00

MidCap Financial Investment (NASDAQ:MFIC) had its price objective lifted by analysts at Royal Bank Of Canada from $10.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price objective indicates a potential upside of 7.06% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Truist Financial downgraded shares of MidCap Financial Investment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $12.00 to $11.00 in a research note on Monday, November 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MidCap Financial Investment in a research report on Wednesday, November 4th. Raymond James Financial lowered MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 28th. Finally, Wells Fargo & Company lowered 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 research note on Monday, August 10th. Seven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Reduce” and a consensus target price of $10.25.

MidCap Financial Investment Price Performance

Shares of MFIC traded up $0.01 during mid-day trading on Tuesday, hitting $10.28. The company’s stock had a trading volume of 160,687 shares, compared to its average volume of 823,859. The firm has a market capitalization of $846.35 million, a P/E ratio of -12.09 and a beta of 0.59. MidCap Financial Investment has a 1-year low of $8.11 and a 1-year high of $12.34. The firm has a 50-day simple moving average of $9.12 and a 200 day simple moving average of $10.23. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.58.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.56). The business had revenue of $61.98 million during the quarter, compared to analyst estimates of $64.43 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. Analysts predict that MidCap Financial Investment will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Condor Capital Management increased its stake in shares of MidCap Financial Investment by 0.9% in the 3rd quarter. Condor Capital Management now owns 435,851 shares of the company’s stock valued at $3,809,000 after buying an additional 3,969 shares during the period. Russell Investments Group Ltd. grew its holdings in MidCap Financial Investment by 2.7% during the third quarter. Russell Investments Group Ltd. now owns 1,172,112 shares of the company’s stock valued at $10,244,000 after purchasing an additional 30,393 shares during the period. Lido Advisors LLC raised its stake in MidCap Financial Investment by 12.4% during the 3rd quarter. Lido Advisors LLC now owns 78,125 shares of the company’s stock worth $683,000 after buying an additional 8,596 shares during the period. Beverly Hills Private Wealth LLC acquired a new position in shares of MidCap Financial Investment in the 3rd quarter valued at approximately $227,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of MidCap Financial Investment in the 3rd quarter valued at about $158,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

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.