MidCap Financial Investment (NASDAQ:MFIC) Price Target Cut to $10.00 by Analysts at Royal Bank Of Canada

MidCap Financial Investment (NASDAQ:MFIC) had its price target lowered by analysts at Royal Bank Of Canada from $11.00 to $10.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 3.67% from the company’s current price.

MFIC has been the topic of several other reports. JPMorgan Chase & Co. reduced their target price on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Wells Fargo & Company dropped their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Wall Street Zen raised shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Truist Financial lowered their target price on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.11.

MidCap Financial Investment Trading Down 1.2%

NASDAQ MFIC traded down $0.11 during mid-day trading on Wednesday, reaching $9.65. 34,571 shares of the stock were exchanged, compared to its average volume of 815,983. The stock has a market capitalization of $794.54 million, a PE ratio of -26.84 and a beta of 0.61. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.78 and a current ratio of 3.78. MidCap Financial Investment has a 1-year low of $9.28 and a 1-year high of $13.34. The business’s fifty day simple moving average is $9.90 and its 200 day simple moving average is $10.68.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. MidCap Financial Investment had a positive return on equity of 11.17% and a negative net margin of 9.85%.The company had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. On average, research analysts anticipate that MidCap Financial Investment will post 1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its holdings in MidCap Financial Investment by 19.0% in the 4th quarter. UBS Group AG now owns 2,024,312 shares of the company’s stock worth $23,158,000 after buying an additional 323,137 shares in the last quarter. Next Capital Management LLC boosted its position in MidCap Financial Investment by 26.1% in the 1st quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock valued at $21,037,000 after buying an additional 387,303 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of MidCap Financial Investment during the fourth quarter valued at about $2,104,000. Millennium Capital Advisors LLC acquired a new stake in shares of MidCap Financial Investment during the fourth quarter valued at about $655,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of MidCap Financial Investment by 730,509.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,113,333 shares of the company’s stock worth $47,057,000 after acquiring an additional 4,112,770 shares during the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

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.