MidCap Financial Investment’s (MFIC) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of MidCap Financial Investment (NASDAQ:MFIC) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of 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. Keefe, Bruyette & Woods raised shares of 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 note on Monday, August 5th. Compass Point raised shares of 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, Wells Fargo & Company dropped their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.71.

MidCap Financial Investment Price Performance

Shares of MFIC opened at $13.82 on Tuesday. The firm has a 50-day simple moving average of $13.47 and a two-hundred day simple moving average of $14.33. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The stock has a market cap of $1.30 billion, a PE ratio of 8.86 and a beta of 1.50.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be paid a dividend of $0.38 per share. The ex-dividend date is Tuesday, December 10th. This represents a $1.52 dividend on an annualized basis and a yield of 11.00%. MidCap Financial Investment’s dividend payout ratio is presently 97.44%.

Hedge Funds Weigh In On MidCap Financial Investment

A number of institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in MidCap Financial Investment by 49.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock valued at $30,079,000 after buying an additional 755,436 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of MidCap Financial Investment by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock worth $28,880,000 after purchasing an additional 10,669 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of MidCap Financial Investment by 139.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock worth $5,952,000 after purchasing an additional 258,940 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of MidCap Financial Investment by 22.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 321,316 shares of the company’s stock valued at $4,302,000 after purchasing an additional 58,188 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of MidCap Financial Investment in the third quarter valued at about $4,172,000. 28.45% of the stock is owned by institutional investors and hedge funds.

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.