MidCap Financial Investment (NASDAQ:MFIC) Posts Earnings Results, Misses Expectations By $0.56 EPS

MidCap Financial Investment (NASDAQ:MFIC) issued its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.56), FiscalAI reports. The business had revenue of $61.98 million for the quarter, compared to the consensus estimate of $64.43 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%.

MidCap Financial Investment Stock Performance

MFIC traded down $0.01 on Friday, hitting $10.26. 755,447 shares of the company traded hands, compared to its average volume of 826,579. MidCap Financial Investment has a 12-month low of $8.11 and a 12-month high of $12.34. The stock has a market capitalization of $845.15 million, a PE ratio of -28.50 and a beta of 0.59. 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 company has a 50 day moving average of $9.10 and a 200-day moving average of $10.24.

MidCap Financial Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Tuesday, December 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend is Tuesday, December 8th. MidCap Financial Investment’s dividend payout ratio is presently -344.44%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MFIC. Royal Bank Of Canada reduced their price objective on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 12th. Raymond James Financial cut MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 28th. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Truist Financial lowered MidCap Financial Investment from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $11.00 in a report on Monday. Finally, Wells Fargo & Company cut their target price 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, August 10th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $10.39.

Institutional Trading of MidCap Financial Investment

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in MidCap Financial Investment by 2.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,172,112 shares of the company’s stock valued at $10,244,000 after buying an additional 30,393 shares during the period. Lido Advisors LLC boosted its holdings in shares of MidCap Financial Investment by 12.4% during the third quarter. Lido Advisors LLC now owns 78,125 shares of the company’s stock valued at $683,000 after acquiring an additional 8,596 shares during the period. Beverly Hills Private Wealth LLC bought a new position in shares of MidCap Financial Investment in the third quarter valued at approximately $227,000. Kestra Advisory Services LLC bought a new stake in MidCap Financial Investment during the third quarter worth approximately $158,000. Finally, Commonwealth Equity Services LLC grew its position in MidCap Financial Investment by 15.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,685 shares of the company’s stock worth $190,000 after purchasing an additional 2,929 shares in the last quarter. Institutional investors and hedge funds 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.