Legal & General Group Plc Buys 74,030 Shares of MidCap Financial Investment Corporation $MFIC

Legal & General Group Plc increased its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 12.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 651,851 shares of the company’s stock after acquiring an additional 74,030 shares during the period. Legal & General Group Plc’s holdings in MidCap Financial Investment were worth $7,447,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Naviter Wealth LLC lifted its position in MidCap Financial Investment by 0.4% in the third quarter. Naviter Wealth LLC now owns 204,109 shares of the company’s stock worth $2,447,000 after buying an additional 850 shares during the last quarter. NewEdge Advisors LLC lifted its position in MidCap Financial Investment by 4.3% in the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock worth $308,000 after buying an additional 1,000 shares during the last quarter. AlphaCore Capital LLC lifted its position in MidCap Financial Investment by 8.6% in the fourth quarter. AlphaCore Capital LLC now owns 12,914 shares of the company’s stock worth $148,000 after buying an additional 1,025 shares during the last quarter. ProShare Advisors LLC lifted its position in MidCap Financial Investment by 5.8% in the third quarter. ProShare Advisors LLC now owns 19,622 shares of the company’s stock worth $235,000 after buying an additional 1,076 shares during the last quarter. Finally, Camelot Portfolios LLC lifted its position in MidCap Financial Investment by 2.2% in the third quarter. Camelot Portfolios LLC now owns 63,262 shares of the company’s stock worth $759,000 after buying an additional 1,378 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MFIC. Wells Fargo & Company lowered their price target on MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Weiss Ratings downgraded MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Keefe, Bruyette & Woods lowered their price target on MidCap Financial Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. Truist Financial lowered their price target on MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. decreased their target price on MidCap Financial Investment from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.54.

MidCap Financial Investment Stock Down 3.1%

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

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Wednesday, May 6th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of ($17.79) million during the quarter, compared to the consensus estimate of $74.62 million. Analysts anticipate that MidCap Financial Investment Corporation will post 1.38 EPS for the current year.

MidCap Financial Investment Announces Dividend

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

MidCap Financial Investment 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.