Castlekeep Investment Advisors LLC Increases Stake in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Castlekeep Investment Advisors LLC grew its holdings in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 331.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 388,822 shares of the company’s stock after acquiring an additional 298,782 shares during the period. MidCap Financial Investment comprises approximately 2.6% of Castlekeep Investment Advisors LLC’s portfolio, making the stock its 8th biggest holding. Castlekeep Investment Advisors LLC’s holdings in MidCap Financial Investment were worth $5,000,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MFIC. Nomura Asset Management Co. Ltd. lifted its holdings in shares of MidCap Financial Investment by 247.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,728 shares of the company’s stock worth $91,000 after acquiring an additional 4,793 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in MidCap Financial Investment in the 4th quarter worth about $156,000. MQS Management LLC bought a new stake in MidCap Financial Investment in the first quarter worth about $162,000. Accel Wealth Management boosted its position in shares of MidCap Financial Investment by 8.5% during the first quarter. Accel Wealth Management now owns 13,651 shares of the company’s stock valued at $176,000 after buying an additional 1,074 shares during the period. Finally, StoneX Group Inc. bought a new position in shares of MidCap Financial Investment during the fourth quarter valued at approximately $180,000. 28.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MFIC shares. Truist Financial decreased their price target on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods lowered their target price on shares of MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price objective on shares of MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MidCap Financial Investment currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

MidCap Financial Investment Stock Performance

MFIC stock opened at $13.16 on Monday. MidCap Financial Investment Corporation has a 1-year low of $10.18 and a 1-year high of $15.67. The business has a 50-day moving average price of $12.62 and a 200 day moving average price of $12.90. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.61 and a beta of 0.97. The company has a debt-to-equity ratio of 1.39, a current ratio of 5.98 and a quick ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). MidCap Financial Investment had a net margin of 33.21% and a return on equity of 10.66%. The business had revenue of $78.70 million during the quarter, compared to the consensus estimate of $82.49 million. As a group, equities research analysts forecast that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.52 annualized dividend and a yield of 11.55%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 122.58%.

MidCap Financial Investment 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.