JPMorgan Chase & Co. Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $11.50

MidCap Financial Investment (NASDAQ:MFIC) had its target price lowered by JPMorgan Chase & Co. from $12.00 to $11.50 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on MFIC. Compass Point restated a “neutral” rating and issued a $12.25 target price (down previously from $14.75) on shares of MidCap Financial Investment in a research note on Monday. Royal Bank Of Canada restated a “sector perform” rating and issued a $13.00 price target on shares of MidCap Financial Investment in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MidCap Financial Investment in a report on Wednesday, October 8th. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 target price on the stock. in a report on Wednesday, July 23rd. Finally, Raymond James Financial set a $13.50 price target on MidCap Financial Investment and gave the company an “outperform” rating in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Hold” and a consensus price target of $13.04.

MidCap Financial Investment Stock Down 0.2%

NASDAQ MFIC opened at $12.02 on Monday. MidCap Financial Investment has a 1-year low of $10.18 and a 1-year high of $14.74. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.34 and a beta of 1.00. The stock’s 50 day moving average is $12.10 and its two-hundred day moving average is $12.51. The company has a current ratio of 4.34, a quick ratio of 4.34 and a debt-to-equity ratio of 1.40.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Thursday, November 6th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $82.58 million during the quarter, compared to the consensus estimate of $83.56 million. MidCap Financial Investment had a return on equity of 10.33% and a net margin of 30.79%. Equities analysts forecast that MidCap Financial Investment will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a $0.38 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $1.52 annualized dividend and a yield of 12.6%. MidCap Financial Investment’s dividend payout ratio (DPR) is currently 143.40%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Cura Wealth Advisors LLC boosted its holdings in MidCap Financial Investment by 354.2% during the first quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company’s stock worth $8,341,000 after buying an additional 505,807 shares during the last quarter. LPL Financial LLC increased its stake in shares of MidCap Financial Investment by 32.7% in the 1st quarter. LPL Financial LLC now owns 562,137 shares of the company’s stock valued at $7,229,000 after acquiring an additional 138,454 shares during the last quarter. Callodine Capital Management LP raised its position in shares of MidCap Financial Investment by 66.5% in the 1st quarter. Callodine Capital Management LP now owns 409,850 shares of the company’s stock valued at $5,271,000 after acquiring an additional 163,633 shares during the period. Castlekeep Investment Advisors LLC raised its position in shares of MidCap Financial Investment by 331.8% in the 1st quarter. Castlekeep Investment Advisors LLC now owns 388,822 shares of the company’s stock valued at $5,000,000 after acquiring an additional 298,782 shares during the period. Finally, Condor Capital Management boosted its stake in MidCap Financial Investment by 7.8% during the 1st quarter. Condor Capital Management now owns 397,086 shares of the company’s stock worth $5,107,000 after acquiring an additional 28,901 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors and hedge funds.

About MidCap Financial Investment

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.