MidCap Financial Investment (NASDAQ:MFIC) Shares Gap Down to $13.87

MidCap Financial Investment Co. (NASDAQ:MFIC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $13.87, but opened at $13.45. MidCap Financial Investment shares last traded at $13.31, with a volume of 196,653 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lowered their price objective on shares of MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $15.00.

MidCap Financial Investment Stock Down 3.7 %

The firm has a market cap of $1.25 billion, a PE ratio of 7.93 and a beta of 1.50. The stock has a fifty day moving average price of $14.30 and a 200-day moving average price of $14.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.02 and a current ratio of 3.02.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $68.02 million. During the same period in the prior year, the company posted $0.44 EPS. Research analysts expect that MidCap Financial Investment Co. will post 1.73 EPS for the current year.

MidCap Financial Investment Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.38%. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, September 10th. MidCap Financial Investment’s dividend payout ratio (DPR) is 86.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MFIC. Van ECK Associates Corp boosted its stake in MidCap Financial Investment by 17.6% during the second quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock valued at $22,932,000 after buying an additional 226,313 shares in the last quarter. Condor Capital Management boosted its stake in MidCap Financial Investment by 16.3% during the second quarter. Condor Capital Management now owns 306,024 shares of the company’s stock valued at $4,633,000 after buying an additional 42,939 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in MidCap Financial Investment by 19.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock valued at $3,984,000 after buying an additional 42,723 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in MidCap Financial Investment during the second quarter valued at about $578,000. Finally, MQS Management LLC bought a new position in MidCap Financial Investment during the second quarter valued at about $575,000. 28.45% of the stock is owned by institutional investors and hedge funds.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.