MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Significant Decrease in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 321,800 shares, a decrease of 21.1% from the October 15th total of 407,700 shares. Based on an average trading volume of 399,000 shares, the short-interest ratio is currently 0.8 days.

MidCap Financial Investment Stock Performance

Shares of MFIC stock traded up $0.14 during trading on Friday, hitting $13.75. The company’s stock had a trading volume of 301,096 shares, compared to its average volume of 360,611. The business has a fifty day moving average of $13.46 and a 200-day moving average of $14.36. The company has a market cap of $1.29 billion, a PE ratio of 8.81 and a beta of 1.50. MidCap Financial Investment has a 52 week low of $12.26 and a 52 week high of $16.36. The company has a current ratio of 8.51, a quick ratio of 3.02 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.05%. The ex-dividend date is Tuesday, December 10th. MidCap Financial Investment’s payout ratio is 97.44%.

Analyst Ratings Changes

Several research firms have recently commented on MFIC. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a report on Monday, August 5th. Wells Fargo & Company lowered their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. decreased their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.86.

Hedge Funds Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its position in MidCap Financial Investment by 49.9% in the third quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock worth $30,079,000 after acquiring an additional 755,436 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of MidCap Financial Investment by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock worth $28,880,000 after purchasing an additional 10,669 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of MidCap Financial Investment by 139.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock worth $5,952,000 after purchasing an additional 258,940 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in MidCap Financial Investment by 22.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 321,316 shares of the company’s stock valued at $4,302,000 after purchasing an additional 58,188 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in MidCap Financial Investment during the third quarter valued at $4,172,000. 28.45% of the stock is 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.