MidCap Financial Investment (NASDAQ:MFIC) Hits New 52-Week Low Following Weak Earnings

Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $9.28 and last traded at $9.4540, with a volume of 123377 shares traded. The stock had previously closed at $9.48.

The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.58). MidCap Financial Investment had a net margin of 1.90% and a return on equity of 10.86%. The company had revenue of ($9.12) million for the quarter, compared to the consensus estimate of $67.80 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MFIC shares. Wall Street Zen upgraded shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings lowered MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their target price on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.46.

Institutional Investors Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of MidCap Financial Investment by 730,509.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,113,333 shares of the company’s stock worth $47,057,000 after purchasing an additional 4,112,770 shares during the last quarter. Rivernorth Capital Management LLC bought a new stake in MidCap Financial Investment in the 4th quarter worth $4,741,000. North Ground Capital increased its position in shares of MidCap Financial Investment by 160.5% in the fourth quarter. North Ground Capital now owns 651,326 shares of the company’s stock valued at $7,451,000 after acquiring an additional 401,326 shares during the period. Next Capital Management LLC boosted its holdings in shares of MidCap Financial Investment by 26.1% during the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock worth $21,037,000 after purchasing an additional 387,303 shares during the period. Finally, UBS Group AG grew its stake in shares of MidCap Financial Investment by 19.0% in the fourth quarter. UBS Group AG now owns 2,024,312 shares of the company’s stock worth $23,158,000 after purchasing an additional 323,137 shares during the last quarter. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Stock Performance

The company has a current ratio of 4.42, a quick ratio of 4.42 and a debt-to-equity ratio of 1.59. The business has a fifty day moving average of $9.99 and a 200-day moving average of $10.73. The company has a market cap of $776.01 million, a PE ratio of 235.68 and a beta of 0.61.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.