JPMorgan Chase & Co. Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $12.00

MidCap Financial Investment (NASDAQ:MFIC) had its price objective reduced by JPMorgan Chase & Co. from $12.50 to $12.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on MFIC. Royal Bank Of Canada reiterated a “sector perform” rating and set a $13.00 price target on shares of MidCap Financial Investment in a report on Monday, August 25th. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price target on the stock. in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, MidCap Financial Investment currently has an average rating of “Hold” and a consensus target price of $13.40.

MidCap Financial Investment Stock Performance

Shares of NASDAQ MFIC opened at $11.81 on Wednesday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 10.94 and a beta of 1.03. The stock’s fifty day simple moving average is $12.62 and its 200 day simple moving average is $12.51. MidCap Financial Investment has a 52-week low of $10.18 and a 52-week high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $81.70 million. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. As a group, sell-side analysts forecast that MidCap Financial Investment 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, September 25th. Investors of record on Tuesday, September 9th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $1.52 dividend on an annualized basis and a yield of 12.9%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 140.74%.

Institutional Trading of MidCap Financial Investment

A number of institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its position in MidCap Financial Investment by 1.6% during the second quarter. Osaic Holdings Inc. now owns 95,698 shares of the company’s stock valued at $1,208,000 after purchasing an additional 1,501 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in MidCap Financial Investment during the second quarter valued at $241,000. CANADA LIFE ASSURANCE Co boosted its position in MidCap Financial Investment by 5.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 93,857 shares of the company’s stock valued at $1,187,000 after purchasing an additional 4,530 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in MidCap Financial Investment by 20,580.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company’s stock valued at $120,000 after purchasing an additional 9,467 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in MidCap Financial Investment by 44.5% during the second quarter. Lazard Asset Management LLC now owns 112,935 shares of the company’s stock valued at $1,425,000 after purchasing an additional 34,800 shares during 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.