MidCap Financial Investment (NASDAQ:MFIC) Price Target Lowered to $14.00 at Wells Fargo & Company

MidCap Financial Investment (NASDAQ:MFIC) had its target price decreased by Wells Fargo & Company from $15.00 to $14.00 in a research report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $14.00 price objective on shares of MidCap Financial Investment in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, MidCap Financial Investment currently has an average rating of “Moderate Buy” and a consensus target price of $14.71.

MidCap Financial Investment Stock Performance

NASDAQ:MFIC opened at $13.71 on Thursday. The company’s 50-day moving average is $13.82 and its two-hundred day moving average is $13.69. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.79 and a beta of 1.48.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $86.28 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. Analysts forecast that MidCap Financial Investment will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date is Tuesday, March 11th. MidCap Financial Investment’s dividend payout ratio (DPR) is 116.03%.

Institutional Trading of MidCap Financial Investment

A number of institutional investors and hedge funds have recently bought and sold shares of MFIC. Van ECK Associates Corp boosted its stake in shares of MidCap Financial Investment by 4.5% in the fourth quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company’s stock valued at $32,005,000 after purchasing an additional 102,406 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in shares of MidCap Financial Investment during the fourth quarter worth $16,771,000. Legal & General Group Plc raised its stake in shares of MidCap Financial Investment by 30.6% in the fourth quarter. Legal & General Group Plc now owns 620,824 shares of the company’s stock valued at $8,372,000 after acquiring an additional 145,402 shares in the last quarter. Ares Management LLC boosted its holdings in MidCap Financial Investment by 55.5% in the fourth quarter. Ares Management LLC now owns 482,032 shares of the company’s stock valued at $6,503,000 after purchasing an additional 172,032 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in MidCap Financial Investment by 4.1% during the 4th quarter. Advisors Asset Management Inc. now owns 462,577 shares of the company’s stock worth $6,240,000 after purchasing an additional 18,046 shares in the last quarter. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

About MidCap Financial Investment

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.