Meridian Investment Counsel Inc. Lowers Stake in MidCap Financial Investment Co. (NASDAQ:MFIC)

Meridian Investment Counsel Inc. decreased its position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 22.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,445 shares of the company’s stock after selling 16,075 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in MidCap Financial Investment were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in MidCap Financial Investment by 15.3% in the 4th quarter. Franklin Resources Inc. now owns 442,643 shares of the company’s stock valued at $5,971,000 after acquiring an additional 58,589 shares during the last quarter. DnB Asset Management AS increased its stake in MidCap Financial Investment by 5.4% in the fourth quarter. DnB Asset Management AS now owns 180,881 shares of the company’s stock valued at $2,440,000 after purchasing an additional 9,193 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in MidCap Financial Investment by 247.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,728 shares of the company’s stock worth $91,000 after buying an additional 4,793 shares during the period. JPMorgan Chase & Co. boosted its stake in MidCap Financial Investment by 17.4% in the 4th quarter. JPMorgan Chase & Co. now owns 166,230 shares of the company’s stock worth $2,242,000 after buying an additional 24,590 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in MidCap Financial Investment in the 4th quarter valued at about $228,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut 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 report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.60.

MidCap Financial Investment Price Performance

Shares of MidCap Financial Investment stock opened at $13.04 on Monday. The business’s fifty day moving average price is $13.68 and its 200 day moving average price is $13.60. MidCap Financial Investment Co. has a twelve month low of $12.26 and a twelve month high of $16.37. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $1.22 billion, a P/E ratio of 8.36 and a beta of 1.49.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $86.28 million. As a group, research 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Tuesday, March 11th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.66%. MidCap Financial Investment’s dividend payout ratio (DPR) is currently 116.03%.

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.