MidCap Financial Investment (NASDAQ:MFIC) Sets New 12-Month Low – Time to Sell?

Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) hit a new 52-week low on Wednesday. The stock traded as low as $8.97 and last traded at $8.9650, with a volume of 139142 shares trading hands. The stock had previously closed at $9.06.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MFIC shares. Royal Bank Of Canada cut 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 note on Wednesday, August 12th. JPMorgan Chase & Co. dropped their price objective on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Truist Financial lowered their price target on MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company cut their price target on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.11.

MidCap Financial Investment Stock Performance

The stock has a fifty day moving average price of $9.52 and a 200 day moving average price of $10.32. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.58. The firm has a market cap of $731.45 million, a price-to-earnings ratio of -24.67 and a beta of 0.61.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Wednesday, August 5th. The company reported $0.40 earnings per share for the quarter, beating 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 firm had revenue of ($9.12) million during the quarter, compared to the consensus estimate of $67.80 million. As a group, analysts predict that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Tuesday, September 8th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 14.0%. The ex-dividend date of this dividend was Tuesday, September 8th. MidCap Financial Investment’s dividend payout ratio is currently -344.44%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds have recently added to or reduced their stakes in MFIC. Next Capital Management LLC increased its stake in 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 purchasing an additional 387,303 shares in the last quarter. Wellington Management Group LLP acquired a new stake in MidCap Financial Investment in the 2nd quarter valued at $10,869,000. Legal & General Group Plc raised its holdings in MidCap Financial Investment by 12.8% during the fourth quarter. Legal & General Group Plc now owns 651,851 shares of the company’s stock worth $7,447,000 after acquiring an additional 74,030 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of MidCap Financial Investment by 21.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 486,444 shares of the company’s stock worth $5,565,000 after purchasing an additional 86,161 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in MidCap Financial Investment by 3.1% in the first quarter. D.A. Davidson & CO. now owns 360,807 shares of the company’s stock valued at $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 (NASDAQ: MFIC) is a non-diversified business development company that provides financing to privately held, middle-market companies. The company primarily invests in senior secured loans, including first-lien and unitranche facilities, and may also invest in subordinated debt and equity securities.

MFIC seeks to support companies across a range of industries and typically focuses on businesses with established operations and experienced management teams.