Garner Asset Management Corp Has $1.41 Million Stake in MidCap Financial Investment Corporation $MFIC

Garner Asset Management Corp reduced its position in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 15.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,631 shares of the company’s stock after selling 20,232 shares during the quarter. Garner Asset Management Corp owned about 0.12% of MidCap Financial Investment worth $1,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MFIC. Wealth Preservation Advisors LLC bought a new position in MidCap Financial Investment in the first quarter valued at approximately $26,000. Ransom Advisory Ltd acquired a new stake in shares of MidCap Financial Investment in the 1st quarter valued at $28,000. Ameritas Advisory Services LLC bought a new position in shares of MidCap Financial Investment in the 2nd quarter valued at $32,000. Signaturefd LLC raised its holdings in shares of MidCap Financial Investment by 88.5% during the 2nd quarter. Signaturefd LLC now owns 3,387 shares of the company’s stock worth $43,000 after buying an additional 1,590 shares in the last quarter. Finally, Access Investment Management LLC acquired a new position in shares of MidCap Financial Investment during the 2nd quarter worth $50,000. Institutional investors own 28.45% of the company’s stock.

Analyst Upgrades and Downgrades

MFIC has been the topic of a number of recent analyst reports. Zacks Research cut MidCap Financial Investment from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. 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 note on Monday, August 25th. Raymond James Financial set a $13.50 price objective on shares of MidCap Financial Investment and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Compass Point reissued a “neutral” rating and issued a $12.25 price objective (down previously from $14.75) on shares of MidCap Financial Investment in a research note on Monday, November 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.04.

MidCap Financial Investment Stock Performance

MidCap Financial Investment stock opened at $12.11 on Thursday. The business has a 50 day moving average of $11.94 and a 200-day moving average of $12.49. The company has a market capitalization of $1.13 billion, a P/E ratio of 11.42 and a beta of 1.00. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 1.40, a current ratio of 4.34 and a quick ratio of 4.34.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Thursday, November 6th. The company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. MidCap Financial Investment had a net margin of 30.79% and a return on equity of 10.33%. The firm had revenue of $82.58 million for the quarter, compared to analyst estimates of $83.56 million. On average, equities research analysts predict that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed 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. This represents a $1.52 dividend on an annualized basis and a yield of 12.6%. The ex-dividend date is Tuesday, December 9th. MidCap Financial Investment’s dividend payout ratio is presently 143.40%.

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.