MidCap Financial Investment (NASDAQ:MFIC) Hits New 1-Year Low – Here’s What Happened

Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) reached a new 52-week low on Monday . The stock traded as low as $9.47 and last traded at $9.5450, with a volume of 254316 shares traded. The stock had previously closed at $9.78.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MidCap Financial Investment has an average rating of “Hold” and an average target price of $11.46.

MidCap Financial Investment Price Performance

The company has a fifty day simple moving average of $10.30 and a two-hundred day simple moving average of $10.89. The stock has a market capitalization of $789.10 million, a price-to-earnings ratio of 239.56 and a beta of 0.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 4.42 and a current ratio of 4.42.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. MidCap Financial Investment had a return on equity of 10.86% and a net margin of 1.90%.The company had revenue of ($17.79) million for the quarter, compared to analysts’ expectations of $74.62 million. As a group, equities research analysts expect that MidCap Financial Investment Corporation will post 1.38 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date was Tuesday, June 9th. MidCap Financial Investment’s dividend payout ratio is presently 3,100.00%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Camelot Portfolios LLC lifted its holdings in shares of MidCap Financial Investment by 8.6% during the 2nd quarter. Camelot Portfolios LLC now owns 62,646 shares of the company’s stock worth $631,000 after acquiring an additional 4,961 shares during the period. Cidel Asset Management Inc. bought a new position in MidCap Financial Investment in the second quarter valued at approximately $507,000. Y Intercept Hong Kong Ltd bought a new position in MidCap Financial Investment in the second quarter valued at approximately $995,000. Confluence Investment Management LLC raised its position in MidCap Financial Investment by 1.2% during the second quarter. Confluence Investment Management LLC now owns 118,551 shares of the company’s stock valued at $1,195,000 after purchasing an additional 1,369 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in MidCap Financial Investment during the first quarter worth $158,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.