MidCap Financial Investment (NASDAQ:MFIC) Sees Large Volume Increase – Here’s Why

MidCap Financial Investment Co. (NASDAQ:MFIC) saw unusually-high trading volume on Wednesday . 975,546 shares were traded during trading, an increase of 130% from the previous session’s volume of 423,769 shares.The stock last traded at $12.56 and had previously closed at $12.42.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $14.00 target price on shares of MidCap Financial Investment in a research report on Tuesday, November 19th. Wells Fargo & Company cut their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.60.

MidCap Financial Investment Price Performance

The company’s 50-day simple moving average is $13.78 and its 200-day simple moving average is $13.67. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The company has a market capitalization of $1.19 billion, a PE ratio of 8.13 and a beta of 1.49.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $86.28 million. As a group, sell-side analysts anticipate that MidCap Financial Investment Co. will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.98%. The ex-dividend date of this dividend is Tuesday, March 11th. MidCap Financial Investment’s dividend payout ratio is presently 116.03%.

Hedge Funds Weigh In On MidCap Financial Investment

Several institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of MidCap Financial Investment by 71.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock valued at $26,000 after acquiring an additional 809 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in MidCap Financial Investment by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 180,756 shares of the company’s stock valued at $2,420,000 after purchasing an additional 946 shares in the last quarter. Muzinich & Co. Inc. increased its position in MidCap Financial Investment by 0.5% during the 3rd quarter. Muzinich & Co. Inc. now owns 186,599 shares of the company’s stock worth $2,499,000 after purchasing an additional 946 shares during the period. Stephens Inc. AR raised its stake in shares of MidCap Financial Investment by 1.2% during the 4th quarter. Stephens Inc. AR now owns 84,491 shares of the company’s stock worth $1,140,000 after buying an additional 1,000 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of MidCap Financial Investment by 197.8% in the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock valued at $35,000 after buying an additional 1,699 shares during the period. 28.45% of the stock is owned by institutional investors and hedge funds.

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.