MidCap Financial Investment (NASDAQ:MFIC) Hits New 12-Month Low – Here’s What Happened

MidCap Financial Investment Corporation (NASDAQ:MFIC)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.23 and last traded at $9.2550, with a volume of 123863 shares trading hands. The stock had previously closed at $9.62.

Analyst Ratings Changes

MFIC has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of 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. Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 12th. Truist Financial lowered their target price on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Wells Fargo & Company lowered their price target on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.11.

MidCap Financial Investment Trading Down 1.5%

The company’s 50 day simple moving average is $9.70 and its 200-day simple moving average is $10.44. The firm has a market cap of $749.57 million, a P/E ratio of -25.28 and a beta of 0.61. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.58.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Wednesday, August 5th. The company reported $0.40 EPS for the quarter, beating 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 firm had revenue of ($9.12) million for the quarter, compared to analysts’ expectations of $67.80 million. As a group, research analysts predict that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, September 8th. MidCap Financial Investment’s payout ratio is currently -344.44%.

Institutional Investors Weigh In On MidCap Financial Investment

Several large investors have recently added to or reduced their stakes in the stock. Advocate Investing Services LLC purchased a new stake in shares of MidCap Financial Investment in the fourth quarter valued at approximately $36,000. BNP Paribas Financial Markets bought a new position in shares of MidCap Financial Investment during the 3rd quarter worth $55,000. Kestra Advisory Services LLC purchased a new position in shares of MidCap Financial Investment during the fourth quarter valued at $109,000. Tower Research Capital LLC TRC raised its holdings in shares of MidCap Financial Investment by 20,580.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company’s stock valued at $120,000 after acquiring an additional 9,467 shares in the last quarter. Finally, LB Partners LLC purchased a new stake in MidCap Financial Investment in the first quarter worth about $112,000. 28.45% of the stock is owned by hedge funds and other institutional investors.

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.