MidCap Financial Investment (NASDAQ:MFIC) Share Price Breaks Below 200 Day Moving Average – Here’s Why

Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.21 and traded as low as $10.17. MidCap Financial Investment shares last traded at $10.18, with a volume of 476,311 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MFIC shares. Weiss Ratings restated a “sell (d+)” rating on shares of MidCap Financial Investment in a research note on Wednesday, November 4th. Raymond James Financial downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 28th. Truist Financial cut shares of MidCap Financial Investment from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.00 to $11.00 in a research report on Monday, November 2nd. Wells Fargo & Company decreased 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 report on Monday, August 10th. Finally, Royal Bank Of Canada increased their price objective on shares of MidCap Financial Investment from $10.00 to $11.00 and gave the company a “sector perform” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MidCap Financial Investment has an average rating of “Reduce” and a consensus price target of $10.25.

MidCap Financial Investment Stock Down 1.1%

The firm has a 50-day moving average price of $9.15 and a 200 day moving average price of $10.21. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.47 and a quick ratio of 3.78. The company has a market cap of $838.53 million, a price-to-earnings ratio of -11.98 and a beta of 0.59.

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

MidCap Financial Investment Dividend Announcement

The company 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 $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Tuesday, December 8th. 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 boosted its position in shares of MidCap Financial Investment by 26.1% in the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock valued at $21,037,000 after acquiring an additional 387,303 shares during the period. 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 acquired a new stake in MidCap Financial Investment during the second quarter worth approximately $10,869,000. Condor Capital Management increased its stake in MidCap Financial Investment by 0.9% during the 3rd quarter. Condor Capital Management now owns 435,851 shares of the company’s stock worth $3,809,000 after acquiring an additional 3,969 shares during the period. Finally, D.A. Davidson & CO. increased its stake in MidCap Financial Investment by 3.1% during 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 period. Institutional investors own 28.45% of the company’s stock.

About MidCap Financial Investment

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.