MidCap Financial Investment (NASDAQ:MFIC) Releases Quarterly Earnings Results, Misses Estimates By $0.56 EPS

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

MidCap Financial Investment Price Performance

MFIC traded down $0.01 during trading on Friday, reaching $10.26. 755,447 shares of the company traded hands, compared to its average volume of 826,579. 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 12-month low of $8.11 and a 12-month high of $12.34. The firm has a fifty day simple moving average of $9.10 and a 200 day simple moving average of $10.24. The company has a market cap of $845.15 million, a P/E ratio of -28.50 and a beta of 0.59.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Tuesday, December 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend is Tuesday, December 8th. MidCap Financial Investment’s dividend payout ratio (DPR) is -344.44%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds have recently modified their holdings of the stock. Confluence Investment Management LLC lifted its stake in MidCap Financial Investment by 1.2% in the 2nd quarter. Confluence Investment Management LLC now owns 118,551 shares of the company’s stock worth $1,195,000 after purchasing an additional 1,369 shares in the last quarter. Sigma Planning Corp grew its position in shares of MidCap Financial Investment by 2.4% during the first quarter. Sigma Planning Corp now owns 73,561 shares of the company’s stock valued at $827,000 after purchasing an additional 1,719 shares in the last quarter. Arete Wealth Advisors LLC grew its position in shares of MidCap Financial Investment by 10.4% during the first quarter. Arete Wealth Advisors LLC now owns 19,133 shares of the company’s stock valued at $215,000 after purchasing an additional 1,800 shares in the last quarter. Lido Advisors LLC grew its position in shares of MidCap Financial Investment by 3.7% during the first quarter. Lido Advisors LLC now owns 67,218 shares of the company’s stock valued at $756,000 after purchasing an additional 2,397 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of MidCap Financial Investment by 15.6% in the third 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 during the last quarter. Hedge funds and other institutional investors own 28.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MFIC. 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. Truist Financial downgraded shares of MidCap Financial Investment from a “buy” rating to a “hold” rating and lowered their price target for the company from $12.00 to $11.00 in a report on Monday. Raymond James Financial lowered shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. Wells Fargo & Company reduced 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, August 10th. Finally, Royal Bank Of Canada decreased their price objective 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 analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MidCap Financial Investment has an average rating of “Reduce” and a consensus target price of $10.39.

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.