Wells Fargo & Company Increases MidCap Financial Investment (NASDAQ:MFIC) Price Target to $15.00

MidCap Financial Investment (NASDAQ:MFIC) had its target price increased by investment analysts at Wells Fargo & Company from $14.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 7.37% from the company’s current price.

Separately, Royal Bank of Canada reiterated 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MidCap Financial Investment has a consensus rating of “Moderate Buy” and an average price target of $14.86.

MidCap Financial Investment Stock Performance

Shares of NASDAQ MFIC opened at $13.97 on Wednesday. MidCap Financial Investment has a 1 year low of $12.26 and a 1 year high of $16.36. The firm has a market cap of $1.31 billion, a P/E ratio of 8.96 and a beta of 1.48. The stock has a fifty day moving average price of $13.66 and a two-hundred day moving average price of $13.70. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Thursday, November 7th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.14 million during the quarter, compared to analysts’ expectations of $82.68 million. During the same quarter last year, the business posted $0.43 earnings per share. Research analysts forecast that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MFIC. Nomura Asset Management Co. Ltd. boosted its position in MidCap Financial Investment by 71.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock worth $26,000 after acquiring an additional 809 shares during the period. Allworth Financial LP boosted its holdings in shares of MidCap Financial Investment by 197.8% during the fourth quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock worth $35,000 after purchasing an additional 1,699 shares during the period. Anchor Investment Management LLC purchased a new position in MidCap Financial Investment during the third quarter valued at approximately $35,000. Westchester Capital Management LLC purchased a new position in MidCap Financial Investment during the third quarter valued at approximately $103,000. Finally, ProShare Advisors LLC acquired a new position in MidCap Financial Investment in the 2nd quarter valued at approximately $159,000. Hedge funds and other 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.