Closed End Fund Advisors Inc. Makes New $2.10 Million Investment in MidCap Financial Investment Corporation $MFIC

Closed End Fund Advisors Inc. bought a new position in MidCap Financial Investment Corporation (NASDAQ:MFIC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 183,892 shares of the company’s stock, valued at approximately $2,104,000. MidCap Financial Investment makes up about 1.2% of Closed End Fund Advisors Inc.’s holdings, making the stock its 20th largest holding.

A number of other hedge funds have also modified their holdings of MFIC. Caxton Associates LLP acquired a new position in shares of MidCap Financial Investment in the 1st quarter worth approximately $166,000. Quantbot Technologies LP acquired a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $230,000. NewEdge Advisors LLC raised its holdings in shares of MidCap Financial Investment by 4.3% in the 2nd quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock worth $308,000 after buying an additional 1,000 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $191,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of MidCap Financial Investment by 16.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company’s stock worth $5,081,000 after buying an additional 57,406 shares in the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

MidCap Financial Investment Trading Down 3.1%

MFIC stock opened at $10.48 on Friday. The business has a fifty day moving average price of $11.25 and a 200 day moving average price of $11.29. MidCap Financial Investment Corporation has a fifty-two week low of $9.48 and a fifty-two week high of $13.51. The stock has a market capitalization of $863.24 million, a price-to-earnings ratio of 262.07 and a beta of 0.59. The company has a debt-to-equity ratio of 1.59, a current ratio of 4.42 and a quick ratio of 4.42.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. MidCap Financial Investment had a return on equity of 10.86% and a net margin of 1.90%.The firm had revenue of ($17.79) million during the quarter, compared to analysts’ expectations of $74.62 million. Analysts expect that MidCap Financial Investment Corporation will post 1.38 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend is Tuesday, June 9th. MidCap Financial Investment’s dividend payout ratio (DPR) is 3,100.00%.

Analysts Set New Price Targets

MFIC has been the subject of a number of recent research reports. Wall Street Zen raised MidCap Financial Investment from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. dropped their target price on MidCap Financial Investment from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Weiss Ratings cut MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Keefe, Bruyette & Woods dropped their price target on MidCap Financial Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Finally, Truist Financial dropped their price target on MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.54.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.