MidCap Financial Investment (NASDAQ:MFIC) Rating Lowered to “Hold” at Truist Financial

MidCap Financial Investment (NASDAQ:MFIC) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Monday, Benzinga reports. They currently have a $11.00 price target on the stock, down from their prior price target of $12.00. Truist Financial‘s price objective points to a potential upside of 6.33% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Wells Fargo & Company cut their price objective on MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Raymond James Financial downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada decreased their target price on shares of MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 12th. Eight equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $10.39.

MidCap Financial Investment Stock Performance

Shares of MidCap Financial Investment stock traded down $0.01 on Monday, reaching $10.35. 164,083 shares of the stock were exchanged, compared to its average volume of 818,961. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.58. The business has a 50 day moving average price of $9.05 and a two-hundred day moving average price of $10.26. MidCap Financial Investment has a twelve month low of $8.11 and a twelve month high of $12.34. The firm has a market capitalization of $852.12 million, a price-to-earnings ratio of -28.71 and a beta of 0.59.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.40 EPS for the quarter, topping the consensus estimate 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 business had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. Analysts anticipate that MidCap Financial Investment will post 1.49 earnings per share for the current fiscal year.

Institutional Trading of MidCap Financial Investment

A number of hedge funds have recently made changes to their positions in the company. Stiles Financial Services Inc purchased a new stake in MidCap Financial Investment during the 3rd quarter worth approximately $91,000. Fifth Third Bancorp bought a new stake in shares of MidCap Financial Investment in the 1st quarter worth $119,000. Empowered Funds LLC bought a new stake in shares of MidCap Financial Investment in the 1st quarter worth approximately $158,000. Entropy Technologies LP acquired a new position in shares of MidCap Financial Investment in the 1st quarter worth $160,000. Finally, IMC Chicago LLC acquired a new position in shares of MidCap Financial Investment in the first quarter worth about $162,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.