MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Large Decrease in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 436,100 shares, a decline of 19.8% from the September 15th total of 544,100 shares. Based on an average trading volume of 501,900 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On MidCap Financial Investment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning lifted its holdings in MidCap Financial Investment by 18.3% during the third quarter. Creative Planning now owns 12,603 shares of the company’s stock valued at $169,000 after purchasing an additional 1,950 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of MidCap Financial Investment during the 3rd quarter valued at $162,000. Capital Market Strategies LLC bought a new position in MidCap Financial Investment in the 3rd quarter worth $245,000. Truist Financial Corp increased its stake in MidCap Financial Investment by 33.4% in the 2nd quarter. Truist Financial Corp now owns 28,771 shares of the company’s stock worth $436,000 after buying an additional 7,200 shares in the last quarter. Finally, ProShare Advisors LLC bought a new stake in MidCap Financial Investment during the second quarter valued at about $159,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Down 0.8 %

Shares of MFIC stock traded down $0.11 during midday trading on Friday, reaching $13.41. 373,770 shares of the stock were exchanged, compared to its average volume of 321,468. The firm has a market cap of $875.04 million, a PE ratio of 7.66 and a beta of 1.50. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.51. The company’s 50 day moving average is $13.54 and its two-hundred day moving average is $14.64. MidCap Financial Investment has a 1 year low of $12.26 and a 1 year high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The firm had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that MidCap Financial Investment will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a $0.38 dividend. The ex-dividend date was Tuesday, September 10th. This is a boost 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%.

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.