MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Significant Decline in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 321,800 shares, a decline of 21.1% from the October 15th total of 407,700 shares. Based on an average trading volume of 399,000 shares, the short-interest ratio is currently 0.8 days.

MidCap Financial Investment Trading Up 1.0 %

MFIC stock traded up $0.14 during midday trading on Friday, hitting $13.75. The company had a trading volume of 301,096 shares, compared to its average volume of 360,611. MidCap Financial Investment has a 52 week low of $12.26 and a 52 week high of $16.36. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 8.81 and a beta of 1.50. The company has a current ratio of 8.51, a quick ratio of 3.02 and a debt-to-equity ratio of 1.25. The stock’s 50 day moving average price is $13.46 and its 200 day moving average price is $14.36.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.52 dividend on an annualized basis and a yield of 11.05%. MidCap Financial Investment’s dividend payout ratio (DPR) is 97.44%.

Hedge Funds Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in shares of MidCap Financial Investment by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 20,748 shares of the company’s stock valued at $312,000 after buying an additional 1,048 shares during the period. SG Americas Securities LLC acquired a new stake in MidCap Financial Investment during the 1st quarter worth $532,000. Advisors Asset Management Inc. increased its stake in shares of MidCap Financial Investment by 11.7% in the 1st quarter. Advisors Asset Management Inc. now owns 141,318 shares of the company’s stock worth $2,125,000 after acquiring an additional 14,779 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of MidCap Financial Investment by 11.8% in the 1st quarter. Virtu Financial LLC now owns 13,559 shares of the company’s stock valued at $204,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in MidCap Financial Investment during the 1st quarter worth about $161,000. Institutional investors own 28.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Monday, August 5th. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.86.

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.