MidCap Financial Investment (NASDAQ:MFIC) Hits New 12-Month High at $15.38

MidCap Financial Investment Co. (NASDAQ:MFIC)’s share price reached a new 52-week high on Thursday . The company traded as high as $15.38 and last traded at $15.38, with a volume of 610 shares changing hands. The stock had previously closed at $15.25.

Analysts Set New Price Targets

MFIC has been the topic of a number of recent research reports. Wells Fargo & Company raised their price target on shares of MidCap Financial Investment from $13.00 to $14.50 and gave the company an “overweight” rating in a report on Monday, January 29th. Citigroup raised their price target on shares of MidCap Financial Investment from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Truist Financial lifted their target price on shares of MidCap Financial Investment from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their target price on shares of MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada boosted their price objective on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.79.

MidCap Financial Investment Stock Performance

The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.43 and a current ratio of 4.43. The firm’s 50-day moving average price is $14.71 and its two-hundred day moving average price is $13.93. The firm has a market capitalization of $983.32 million, a price-to-earnings ratio of 8.38 and a beta of 1.47.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Monday, February 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. MidCap Financial Investment had a net margin of 42.95% and a return on equity of 15.50%. The business had revenue of $71.95 million for the quarter, compared to analyst estimates of $68.44 million. During the same period in the previous year, the business earned $0.43 EPS. Sell-side analysts predict that MidCap Financial Investment Co. will post 1.72 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.52 dividend on an annualized basis and a yield of 10.09%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 83.52%.

Hedge Funds Weigh In On MidCap Financial Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MFIC. Security National Bank acquired a new position in MidCap Financial Investment in the fourth quarter valued at about $76,000. Tucker Asset Management LLC acquired a new position in shares of MidCap Financial Investment during the fourth quarter worth approximately $81,000. Parkside Financial Bank & Trust lifted its position in shares of MidCap Financial Investment by 63.3% during the third quarter. Parkside Financial Bank & Trust now owns 6,021 shares of the company’s stock worth $83,000 after purchasing an additional 2,335 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in shares of MidCap Financial Investment during the fourth quarter worth approximately $92,000. Finally, Register Financial Advisors LLC acquired a new position in shares of MidCap Financial Investment during the first quarter worth approximately $114,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.