MidCap Financial Investment (NASDAQ:MFIC) Shares Gap Down to $13.87

MidCap Financial Investment Co. (NASDAQ:MFIC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $13.87, but opened at $13.45. MidCap Financial Investment shares last traded at $13.31, with a volume of 196,653 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research report on Monday, August 5th. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Finally, Wells Fargo & Company lowered their target price on shares of MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.00.

MidCap Financial Investment Stock Performance

The stock has a market capitalization of $875.04 million, a P/E ratio of 7.66 and a beta of 1.50. The stock’s 50-day simple moving average is $14.22 and its 200 day simple moving average is $14.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. The business had revenue of $69.16 million for the quarter, compared to analyst estimates of $68.02 million. During the same quarter in the prior year, the business earned $0.44 EPS. Research analysts expect that MidCap Financial Investment Co. will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Tuesday, September 10th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. This represents a $1.52 annualized dividend and a yield of 11.33%. MidCap Financial Investment’s payout ratio is 86.86%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MFIC. Security National Bank acquired a new position in shares of MidCap Financial Investment in the fourth quarter valued at about $76,000. Tucker Asset Management LLC acquired a new stake in shares of MidCap Financial Investment in the fourth quarter valued at approximately $81,000. Brown Brothers Harriman & Co. bought a new stake in shares of MidCap Financial Investment in the second quarter valued at approximately $81,000. Cape Investment Advisory Inc. acquired a new stake in MidCap Financial Investment during the fourth quarter worth approximately $92,000. Finally, Register Financial Advisors LLC bought a new position in MidCap Financial Investment during the 1st quarter worth $114,000. Institutional investors own 28.45% of the company’s stock.

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.