MidCap Financial Investment (NASDAQ:MFIC) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of MidCap Financial Investment (NASDAQ:MFIC) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

MFIC has been the subject of several other research reports. JPMorgan Chase & Co. cut their price objective on MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Wednesday, October 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $13.00 price objective on shares of MidCap Financial Investment in a research report on Monday, August 25th. Raymond James Financial set a $13.50 target price on shares of MidCap Financial Investment and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods lowered their price target on MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Monday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.04.

MidCap Financial Investment Price Performance

Shares of MFIC stock traded up $0.06 during trading hours on Wednesday, reaching $11.97. The stock had a trading volume of 558,300 shares, compared to its average volume of 450,491. The stock’s fifty day simple moving average is $12.05 and its 200 day simple moving average is $12.50. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 1.40. MidCap Financial Investment has a 12 month low of $10.18 and a 12 month high of $14.74. The firm has a market capitalization of $1.12 billion, a PE ratio of 11.29 and a beta of 1.00.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. MidCap Financial Investment had a net margin of 30.79% and a return on equity of 10.33%. The firm had revenue of $82.58 million for the quarter, compared to analysts’ expectations of $83.56 million. On average, equities research analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th 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 12.7%. The ex-dividend date of this dividend is Tuesday, December 9th. MidCap Financial Investment’s dividend payout ratio (DPR) is 143.40%.

Hedge Funds Weigh In On MidCap Financial Investment

Several institutional investors and hedge funds have recently bought and sold shares of MFIC. Cura Wealth Advisors LLC grew its holdings in shares of MidCap Financial Investment by 354.2% in the first quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company’s stock worth $8,341,000 after purchasing an additional 505,807 shares during the last quarter. LPL Financial LLC boosted its position in MidCap Financial Investment by 32.7% during the 1st quarter. LPL Financial LLC now owns 562,137 shares of the company’s stock valued at $7,229,000 after acquiring an additional 138,454 shares in the last quarter. Callodine Capital Management LP grew its stake in MidCap Financial Investment by 66.5% in the first quarter. Callodine Capital Management LP now owns 409,850 shares of the company’s stock worth $5,271,000 after purchasing an additional 163,633 shares during the period. Condor Capital Management grew its stake in shares of MidCap Financial Investment by 7.8% in the 1st quarter. Condor Capital Management now owns 397,086 shares of the company’s stock worth $5,107,000 after buying an additional 28,901 shares during the last quarter. Finally, Ethos Financial Group LLC increased its holdings in shares of MidCap Financial Investment by 2,074.6% during the first quarter. Ethos Financial Group LLC now owns 415,948 shares of the company’s stock valued at $5,361,000 after acquiring an additional 396,820 shares in the last quarter. 28.45% of the stock is currently owned by 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.