Advisors Asset Management Inc. Grows Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

Advisors Asset Management Inc. lifted its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 11.7% in the first quarter, HoldingsChannel.com reports. The firm owned 141,318 shares of the company’s stock after acquiring an additional 14,779 shares during the quarter. Advisors Asset Management Inc.’s holdings in MidCap Financial Investment were worth $2,125,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Security National Bank acquired a new position in MidCap Financial Investment during the 4th quarter worth about $76,000. Tucker Asset Management LLC acquired a new stake in MidCap Financial Investment in the 4th quarter valued at about $81,000. Cape Investment Advisory Inc. acquired a new stake in MidCap Financial Investment in the 4th quarter valued at about $92,000. Register Financial Advisors LLC acquired a new stake in MidCap Financial Investment in the 1st quarter valued at about $114,000. Finally, Stablepoint Partners LLC acquired a new stake in MidCap Financial Investment in the 1st quarter valued at about $186,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Up 1.1 %

MFIC opened at $14.42 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.76 and a quick ratio of 2.76. The business has a 50 day simple moving average of $15.40 and a 200-day simple moving average of $14.88. The stock has a market capitalization of $940.91 million, a P/E ratio of 8.24 and a beta of 1.50. MidCap Financial Investment Co. has a 12 month low of $12.51 and a 12 month high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $68.33 million during the quarter, compared to analysts’ expectations of $69.48 million. MidCap Financial Investment had a return on equity of 11.51% and a net margin of 41.19%. On average, equities analysts anticipate that MidCap Financial Investment Co. will post 1.72 earnings per share for the current fiscal year.

MidCap Financial Investment Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be issued a $0.20 dividend. The ex-dividend date is Monday, August 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.55%. MidCap Financial Investment’s dividend payout ratio (DPR) is 86.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on MidCap Financial Investment from $15.50 to $16.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MidCap Financial Investment presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

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.