MidCap Financial Investment (NASDAQ:MFIC) Price Target Raised to $11.00

MidCap Financial Investment (NASDAQ:MFIC) had its target price boosted by Royal Bank Of Canada from $10.00 to $11.00 in a research report report published on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other analysts have also commented on MFIC. Wells Fargo & Company lowered their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, August 10th. Raymond James Financial downgraded shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of MidCap Financial Investment in a research report on Wednesday, November 4th. Finally, Truist Financial lowered shares of MidCap Financial Investment from a “buy” rating to a “hold” rating and decreased their price target for the stock from $12.00 to $11.00 in a research note on Monday, November 2nd. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $10.25.

MidCap Financial Investment Price Performance

Shares of NASDAQ MFIC opened at $10.18 on Tuesday. The company has a market capitalization of $838.53 million, a PE ratio of -11.98 and a beta of 0.59. The company has a quick ratio of 3.78, a current ratio of 5.47 and a debt-to-equity ratio of 1.49. The stock’s 50 day moving average price is $9.15 and its 200-day moving average price is $10.21. MidCap Financial Investment has a twelve month low of $8.11 and a twelve month high of $12.34.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Wednesday, November 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.56). The business had revenue of $61.98 million for the quarter, compared to analysts’ expectations of $64.43 million. MidCap Financial Investment had a negative net margin of 26.23% and a positive return on equity of 11.25%. On average, equities analysts anticipate that MidCap Financial Investment will post 1.48 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Tuesday, December 8th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, December 8th. This represents a $1.24 annualized dividend and a dividend yield of 12.2%. MidCap Financial Investment’s dividend payout ratio is currently -145.88%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MFIC. Next Capital Management LLC grew its position in shares of MidCap Financial Investment by 26.1% during the 1st quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock valued at $21,037,000 after purchasing an additional 387,303 shares in the last quarter. Russell Investments Group Ltd. grew its position in MidCap Financial Investment by 2.7% during the third quarter. Russell Investments Group Ltd. now owns 1,172,112 shares of the company’s stock worth $10,244,000 after buying an additional 30,393 shares in the last quarter. Wellington Management Group LLP purchased a new position in MidCap Financial Investment during the second quarter worth about $10,869,000. Condor Capital Management grew its position in MidCap Financial Investment by 0.9% during the third quarter. Condor Capital Management now owns 435,851 shares of the company’s stock worth $3,809,000 after buying an additional 3,969 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in MidCap Financial Investment by 3.1% in the 1st quarter. D.A. Davidson & CO. now owns 360,807 shares of the company’s stock worth $4,055,000 after acquiring an additional 10,736 shares during the last quarter. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation is a business development company that provides financing to middle-market companies. Its investments are primarily in privately held businesses and may include senior secured loans, unitranche and other subordinated debt, and, to a lesser extent, equity securities. The company focuses mainly on lending to businesses in the United States across a range of industries. Its financing can support acquisitions, refinancings, growth initiatives, and other corporate needs.