Bayshore Capital Advisors LLC Sells 86,200 Shares of MidCap Financial Investment Corporation $MFIC

Bayshore Capital Advisors LLC cut its position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 88.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,380 shares of the company’s stock after selling 86,200 shares during the quarter. Bayshore Capital Advisors LLC’s holdings in MidCap Financial Investment were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Next Capital Management LLC boosted its holdings in shares of MidCap Financial Investment by 26.1% in the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock valued at $21,037,000 after purchasing an additional 387,303 shares during the period. Wellington Management Group LLP purchased a new position in shares of MidCap Financial Investment in the 2nd quarter valued at approximately $10,869,000. D.A. Davidson & CO. lifted its position in shares of MidCap Financial Investment by 3.1% in the first quarter. D.A. Davidson & CO. now owns 360,807 shares of the company’s stock valued at $4,055,000 after acquiring an additional 10,736 shares in the last quarter. Sharpepoint LLC lifted its stake in shares of MidCap Financial Investment by 19.9% during the first quarter. Sharpepoint LLC now owns 124,177 shares of the company’s stock worth $1,396,000 after purchasing an additional 20,608 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of MidCap Financial Investment by 1.2% during the second quarter. Confluence Investment Management LLC now owns 118,551 shares of the company’s stock worth $1,195,000 after purchasing an additional 1,369 shares during the period. Institutional investors own 28.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MFIC. Raymond James Financial downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 28th. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, August 10th. Royal Bank Of Canada reduced their target price on MidCap Financial Investment from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 12th. Truist Financial lowered MidCap Financial Investment from a “buy” rating to a “hold” rating and lowered their price objective for the company from $12.00 to $11.00 in a research report on Monday, November 2nd. Finally, Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Eight analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $10.39.

MidCap Financial Investment Stock Down 0.1%

Shares of NASDAQ MFIC opened at $10.26 on Friday. The firm has a fifty day moving average of $9.11 and a 200-day moving average of $10.23. The stock has a market capitalization of $845.12 million, a PE ratio of 6.64 and a beta of 0.59. MidCap Financial Investment Corporation has a 52-week low of $8.11 and a 52-week high of $12.34. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 1.58.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Wednesday, November 4th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.56). The company had revenue of $61.98 million during the quarter, compared to analyst estimates of $64.43 million. MidCap Financial Investment had a positive return on equity of 11.17% and a negative net margin of 9.85%. On average, analysts anticipate that MidCap Financial Investment Corporation will post 1.49 EPS for the current year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Tuesday, December 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date is Tuesday, December 8th. MidCap Financial Investment’s dividend payout ratio (DPR) is currently -344.44%.

About MidCap Financial Investment

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed 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 in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.