MidCap Financial Investment (NASDAQ:MFIC) Hits New 1-Year Low – Here’s What Happened

MidCap Financial Investment Corporation (NASDAQ:MFIC)’s stock price hit a new 52-week low during trading on Tuesday. The stock traded as low as $8.14 and last traded at $8.22, with a volume of 520,517 shares traded. The stock had previously closed at $8.34.

Wall Street Analysts Forecast Growth

MFIC has been the subject of a number of research reports. Truist Financial reduced their price target on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wells Fargo & Company decreased their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 10th. Weiss Ratings lowered MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Royal Bank Of Canada cut their target price on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. cut their target price on MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MidCap Financial Investment currently has a consensus rating of “Hold” and a consensus target price of $10.71.

MidCap Financial Investment Stock Performance

The company has a market cap of $677.08 million, a PE ratio of 5.38 and a beta of 0.62. The stock has a 50 day simple moving average of $9.14 and a two-hundred day simple moving average of $10.06. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.78 and a quick ratio of 3.78.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Wednesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. Equities analysts predict that MidCap Financial Investment Corporation will post 1.49 EPS for the current year.

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Tuesday, September 8th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a yield of 15.1%. MidCap Financial Investment’s dividend payout ratio is currently -344.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MFIC. LB Partners LLC acquired a new position in MidCap Financial Investment in the first quarter valued at $112,000. Fifth Third Bancorp acquired a new stake in shares of MidCap Financial Investment during the first quarter worth about $119,000. World Investment Advisors acquired a new stake in shares of MidCap Financial Investment during the fourth quarter worth about $150,000. Empowered Funds LLC acquired a new stake in shares of MidCap Financial Investment during the first quarter worth about $158,000. Finally, Entropy Technologies LP acquired a new stake in shares of MidCap Financial Investment during the first quarter worth about $160,000. 28.45% of the stock is owned by hedge funds and other institutional investors.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt securities and, selectively, equity investments.

Its investments generally include senior secured, first-lien and unitranche loans, as well as second-lien loans, subordinated debt and equity interests. MidCap Financial Investment typically works with companies across a range of industries and emphasizes businesses with established operations, recurring cash flow and experienced management teams.

The company invests primarily in the United States and operates as a regulated business development company under the Investment Company Act of 1940.