MidCap Financial Investment (NASDAQ:MFIC) Upgraded to “Outperform” by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment (NASDAQ:MFIC) from a market perform rating to an outperform rating in a research report released on Monday morning, Marketbeat reports. Keefe, Bruyette & Woods currently has $15.00 price objective on the stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a neutral rating on the stock in a report on Monday, July 29th. Compass Point upgraded MidCap Financial Investment from a neutral rating to a buy rating and set a $16.00 target price on the stock in a research report on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on MidCap Financial Investment from $15.50 to $16.00 and gave the company an overweight rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $15.14.

MidCap Financial Investment Stock Performance

Shares of MFIC traded up $0.10 during mid-day trading on Monday, reaching $13.13. The company had a trading volume of 654,870 shares, compared to its average volume of 284,213. The stock has a 50 day moving average of $15.21 and a two-hundred day moving average of $14.89. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $856.77 million, a P/E ratio of 7.50 and a beta of 1.50. MidCap Financial Investment has a 52-week low of $12.26 and a 52-week high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $68.33 million for the quarter, compared to analyst estimates of $69.48 million. MidCap Financial Investment had a return on equity of 11.51% and a net margin of 41.19%. On average, analysts expect that MidCap Financial Investment will post 1.71 earnings per share for the current year.

MidCap Financial Investment Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Monday, August 5th. MidCap Financial Investment’s dividend payout ratio is presently 86.86%.

Hedge Funds Weigh In On MidCap Financial Investment

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of MidCap Financial Investment by 17.6% in the second quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock worth $22,932,000 after acquiring an additional 226,313 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in MidCap Financial Investment by 1.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 337,880 shares of the company’s stock worth $5,082,000 after purchasing an additional 3,215 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of MidCap Financial Investment by 1,268.1% during the fourth quarter. International Assets Investment Management LLC now owns 286,055 shares of the company’s stock worth $3,913,000 after buying an additional 265,146 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of MidCap Financial Investment by 19.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock worth $3,984,000 after buying an additional 42,723 shares in the last quarter. Finally, Condor Capital Management boosted its position in MidCap Financial Investment by 6.1% during the first quarter. Condor Capital Management now owns 263,085 shares of the company’s stock worth $3,957,000 after acquiring an additional 15,204 shares during the last quarter. Institutional investors and hedge funds own 28.45% of the company’s stock.

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.