MidCap Financial Investment Co. (NASDAQ:MFIC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of MidCap Financial Investment Co. (NASDAQ:MFIC) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $15.00.

Several brokerages recently commented on MFIC. Wells Fargo & Company dropped their price target on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Monday, August 5th. Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th.

Institutional Trading of MidCap Financial Investment

Several hedge funds have recently made changes to their positions in MFIC. Van ECK Associates Corp lifted its holdings in 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 valued at $22,932,000 after acquiring an additional 226,313 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of MidCap Financial Investment by 1.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 337,880 shares of the company’s stock valued at $5,082,000 after purchasing an additional 3,215 shares during the last quarter. Condor Capital Management grew its holdings in shares of MidCap Financial Investment by 16.3% during the 2nd quarter. Condor Capital Management now owns 306,024 shares of the company’s stock worth $4,633,000 after purchasing an additional 42,939 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of MidCap Financial Investment by 19.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock worth $3,984,000 after purchasing an additional 42,723 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in MidCap Financial Investment by 9.9% in the 2nd quarter. D.A. Davidson & CO. now owns 250,155 shares of the company’s stock valued at $3,787,000 after buying an additional 22,623 shares during the period. Hedge funds and other institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Stock Performance

MFIC opened at $13.72 on Friday. The company has a market cap of $895.27 million, a price-to-earnings ratio of 7.84 and a beta of 1.50. The firm’s fifty day simple moving average is $13.96 and its two-hundred day simple moving average is $14.77. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.51. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $68.02 million. During the same period last year, the company posted $0.44 EPS. Equities analysts anticipate that MidCap Financial Investment will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. This represents a $1.52 dividend on an annualized basis and a yield of 11.08%. MidCap Financial Investment’s payout ratio is 86.86%.

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.