MidCap Financial Investment (NASDAQ:MFIC) Announces Earnings Results, Hits Estimates

MidCap Financial Investment (NASDAQ:MFIC) issued its quarterly earnings results on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38, Zacks reports. MidCap Financial Investment had a return on equity of 10.28% and a net margin of 30.79%.The company had revenue of $82.58 million for the quarter, compared to the consensus estimate of $83.56 million.

MidCap Financial Investment Trading Down 0.7%

Shares of NASDAQ:MFIC traded down $0.09 during mid-day trading on Friday, reaching $12.03. The stock had a trading volume of 605,232 shares, compared to its average volume of 438,782. The firm has a 50 day simple moving average of $12.16 and a two-hundred day simple moving average of $12.51. MidCap Financial Investment has a twelve month low of $10.18 and a twelve month high of $14.74. The firm has a market cap of $1.12 billion, a PE ratio of 11.35 and a beta of 1.00. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Tuesday, December 9th. MidCap Financial Investment’s payout ratio is presently 143.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of MidCap Financial Investment from $12.50 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Raymond James Financial set a $13.50 price target on MidCap Financial Investment and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods cut shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price objective on the stock. in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of MidCap Financial Investment in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $13.00 price target on shares of MidCap Financial Investment in a report on Monday, August 25th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, MidCap Financial Investment currently has an average rating of “Hold” and a consensus target price of $13.42.

Hedge Funds Weigh In On MidCap Financial Investment

Several institutional investors and hedge funds have recently made changes to their positions in MFIC. Caxton Associates LLP acquired a new stake in MidCap Financial Investment during the 1st quarter worth $166,000. Quantbot Technologies LP acquired a new position in MidCap Financial Investment in the second quarter valued at about $230,000. NewEdge Advisors LLC increased its holdings in shares of MidCap Financial Investment by 4.3% in the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock worth $308,000 after acquiring an additional 1,000 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of MidCap Financial Investment during the second quarter worth about $191,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of MidCap Financial Investment by 16.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company’s stock valued at $5,081,000 after purchasing an additional 57,406 shares in the last quarter. Institutional investors and hedge funds own 28.45% of the company’s stock.

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.