MidCap Financial Investment (NASDAQ:MFIC) Reaches New 12-Month Low – Here’s Why

MidCap Financial Investment Co. (NASDAQ:MFIC) reached a new 52-week low on Friday . The company traded as low as $11.60 and last traded at $11.64, with a volume of 661106 shares changing hands. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.60.

MidCap Financial Investment Stock Down 7.9 %

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 stock has a market capitalization of $1.08 billion, a PE ratio of 7.37 and a beta of 1.13. The company has a 50 day moving average price of $13.56 and a 200-day moving average price of $13.56.

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

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th were issued a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.52 dividend on an annualized basis and a yield of 13.22%. MidCap Financial Investment’s dividend payout ratio (DPR) is 116.03%.

Institutional Trading of MidCap Financial Investment

A number of hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its holdings in MidCap Financial Investment by 71.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock worth $26,000 after purchasing an additional 809 shares during the period. Anchor Investment Management LLC bought a new stake in shares of MidCap Financial Investment in the 3rd quarter worth approximately $35,000. Allworth Financial LP grew its stake in shares of MidCap Financial Investment by 197.8% in the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock worth $35,000 after buying an additional 1,699 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of MidCap Financial Investment in the 4th quarter worth approximately $155,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in MidCap Financial Investment during the 4th quarter valued at approximately $156,000. Institutional investors own 28.45% of the company’s stock.

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.