MidCap Financial Investment (NASDAQ:MFIC) Sets New 52-Week Low – What’s Next?

MidCap Financial Investment Corporation (NASDAQ:MFIC)’s stock price reached a new 52-week low during trading on Tuesday. The stock traded as low as $8.14 and last traded at $8.22, with a volume of 520,517 shares. The stock had previously closed at $8.34.

Wall Street Analysts Forecast Growth

MFIC has been the topic of several research reports. Royal Bank Of Canada decreased their target price on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their price target on MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Weiss Ratings cut MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Finally, Truist Financial reduced their price objective on MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MidCap Financial Investment presently has an average rating of “Hold” and an average target price of $10.71.

MidCap Financial Investment Stock Down 1.0%

The stock has a market capitalization of $673.81 million, a price-to-earnings ratio of -22.72 and a beta of 0.62. The business’s 50-day moving average is $9.08 and its two-hundred day moving average is $10.02. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.58.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of ($9.12) million during the quarter, compared to analysts’ expectations of $67.80 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. Equities analysts anticipate that MidCap Financial Investment Corporation will post 1.49 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 15.2%. The ex-dividend date was Tuesday, September 8th. MidCap Financial Investment’s payout ratio is currently -344.44%.

Institutional Investors Weigh In On MidCap Financial Investment

A number of large investors have recently made changes to their positions in the stock. Confluence Investment Management LLC boosted its stake in MidCap Financial Investment by 6.7% during the third quarter. Confluence Investment Management LLC now owns 126,539 shares of the company’s stock worth $1,106,000 after buying an additional 7,988 shares during the last quarter. Cidel Asset Management Inc. purchased a new stake in MidCap Financial Investment in the 2nd quarter valued at $507,000. Camelot Portfolios LLC grew its holdings in MidCap Financial Investment by 8.6% in the 2nd quarter. Camelot Portfolios LLC now owns 62,646 shares of the company’s stock valued at $631,000 after buying an additional 4,961 shares in the last quarter. Headlands Technologies LLC grew its holdings in MidCap Financial Investment by 304.1% in the 2nd quarter. Headlands Technologies LLC now owns 51,819 shares of the company’s stock valued at $522,000 after buying an additional 38,995 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of MidCap Financial Investment in the 2nd quarter worth $10,869,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.