MidCap Financial Investment (NASDAQ:MFIC) Releases Quarterly Earnings Results

MidCap Financial Investment (NASDAQ:MFIC) issued its quarterly earnings results on Thursday. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38, Zacks reports. The company had revenue of $82.58 million for the quarter, compared to analyst estimates of $83.56 million. MidCap Financial Investment had a return on equity of 10.28% and a net margin of 30.79%.

MidCap Financial Investment Stock Performance

Shares of NASDAQ MFIC traded down $0.09 during trading hours on Friday, reaching $12.03. 605,232 shares of the stock were exchanged, compared to its average volume of 438,782. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.35 and a beta of 1.00. The stock’s fifty day simple moving average is $12.16 and its 200 day simple moving average is $12.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.53 and a current ratio of 3.53. MidCap Financial Investment has a 52 week low of $10.18 and a 52 week high of $14.74.

MidCap Financial Investment Announces Dividend

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

Institutional Investors Weigh In On MidCap Financial Investment

A number of institutional investors have recently modified their holdings of MFIC. Ameriprise Financial Inc. increased its position in MidCap Financial Investment by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company’s stock worth $5,081,000 after acquiring an additional 57,406 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in MidCap Financial Investment by 11.5% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 271,547 shares of the company’s stock valued at $3,427,000 after purchasing an additional 27,977 shares during the period. Lazard Asset Management LLC grew its position in shares of MidCap Financial Investment by 44.5% during the 2nd quarter. Lazard Asset Management LLC now owns 112,935 shares of the company’s stock worth $1,425,000 after purchasing an additional 34,800 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of MidCap Financial Investment by 5.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 93,857 shares of the company’s stock worth $1,187,000 after purchasing an additional 4,530 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of MidCap Financial Investment by 16.6% during the third quarter. Envestnet Asset Management Inc. now owns 56,947 shares of the company’s stock worth $683,000 after purchasing an additional 8,109 shares during the period. Institutional investors own 28.45% of the company’s stock.

Analyst Upgrades and Downgrades

MFIC has been the subject of a number of recent research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $13.00 price target on shares of MidCap Financial Investment in a research report on Monday, August 25th. Keefe, Bruyette & Woods lowered shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price target on the stock. in a research note on Wednesday, July 23rd. Raymond James Financial set a $13.50 price target on shares of MidCap Financial Investment and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price objective on MidCap Financial Investment from $12.50 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MidCap Financial Investment in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, MidCap Financial Investment has an average rating of “Hold” and an average price target of $13.42.

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.