MidCap Financial Investment (NASDAQ:MFIC) Downgraded by Truist Financial to "Hold"

Key Points

• Truist Financial downgraded MidCap Financial Investment from “Buy” to “Hold” and cut its price target from $12 to $11, implying approximately 6.33% upside from the current price.
• Analyst sentiment has weakened, with eight analysts rating MFIC a Hold and one rating it a Sell; MarketBeat reports a consensus rating of “Reduce” and an average price target of $10.39.
• MFIC shares traded around $10.35, while the company’s latest quarterly EPS of $0.40 exceeded estimates of $0.37. Institutional investors own approximately 28.45% of the stock.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) was downgraded by equities researchers at Truist Financial from a "buy" rating to a "hold" rating in a report released on Monday, Benzinga reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $12.00. Truist Financial's target price indicates a potential upside of 6.33% from the company's current price.

MFIC has been the topic of a number of other reports. Weiss Ratings lowered MidCap Financial Investment from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Wells Fargo & Company reduced their price objective on shares of 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 dropped their target price on shares of 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. Finally, Raymond James Financial lowered shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating in a research note on Wednesday, October 28th. Eight research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, MidCap Financial Investment presently has a consensus rating of "Reduce" and a consensus price target of $10.39.

MidCap Financial Investment Stock Performance

Shares of NASDAQ MFIC traded down $0.01 during mid-day trading on Monday, hitting $10.35. The company had a trading volume of 164,083 shares, compared to its average volume of 818,961. The stock's 50-day moving average price is $9.05 and its 200-day moving average price is $10.26. The company has a market capitalization of $852.12 million, a price-to-earnings ratio of -28.71 and a beta of 0.59. MidCap Financial Investment has a 1 year low of $8.11 and a 1 year high of $12.34. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 1.58.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of ($9.12) million during the quarter, compared to the consensus estimate of $67.80 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. On average, sell-side analysts forecast that MidCap Financial Investment will post 1.49 earnings per share for the current year.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds have recently added to or reduced their stakes in the company. Stiles Financial Services Inc purchased a new stake in shares of MidCap Financial Investment in the third quarter valued at approximately $91,000. Fifth Third Bancorp bought a new position in shares of MidCap Financial Investment during the first quarter valued at approximately $119,000. Empowered Funds LLC purchased a new position in MidCap Financial Investment during the first quarter valued at approximately $158,000. Entropy Technologies LP purchased a new stake in MidCap Financial Investment during the first quarter worth $160,000. Finally, IMC Chicago LLC purchased a new position in shares of MidCap Financial Investment in the 1st quarter valued at $162,000. 28.45% of the stock is currently owned by institutional investors.

MidCap Financial Investment Company Profile

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.

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