Tyche Wealth Partners LLC Invests $284,000 in MidCap Financial Investment Co. (NASDAQ:MFIC)

Tyche Wealth Partners LLC purchased a new stake in MidCap Financial Investment Co. (NASDAQ:MFIC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,228 shares of the company’s stock, valued at approximately $284,000.

Several other hedge funds also recently added to or reduced their stakes in MFIC. SG Americas Securities LLC purchased a new position in shares of MidCap Financial Investment during the first quarter worth about $532,000. Hennion & Walsh Asset Management Inc. grew its stake in 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 buying an additional 42,723 shares during the last quarter. MQS Management LLC acquired a new position in MidCap Financial Investment during the second quarter worth approximately $575,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in MidCap Financial Investment by 0.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company’s stock valued at $2,739,000 after buying an additional 1,057 shares during the last quarter. Finally, Condor Capital Management boosted its holdings in shares of MidCap Financial Investment by 16.3% in the second quarter. Condor Capital Management now owns 306,024 shares of the company’s stock valued at $4,633,000 after acquiring an additional 42,939 shares during the period. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Down 1.3 %

Shares of NASDAQ:MFIC opened at $13.37 on Wednesday. The company has a market cap of $872.43 million, a price-to-earnings ratio of 7.64 and a beta of 1.50. MidCap Financial Investment Co. has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The firm’s 50-day simple moving average is $13.55 and its 200-day simple moving average is $14.51. 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 (NASDAQ:MFIC) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. The company had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $68.02 million. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, equities research analysts predict that MidCap Financial Investment Co. will post 1.72 earnings per share for the current year.

MidCap Financial Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.52 dividend on an annualized basis and a yield of 11.37%. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. MidCap Financial Investment’s dividend payout ratio (DPR) is 86.86%.

Analyst Ratings Changes

A number of brokerages have recently commented on MFIC. JPMorgan Chase & Co. cut their target price 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. Wells Fargo & Company dropped their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday. Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, MidCap Financial Investment has an average rating of “Moderate Buy” and an average target price of $14.86.

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.