1832 Asset Management L.P. Makes New $2.96 Million Investment in MidCap Financial Investment Corporation $MFIC

Key Points

• 1832 Asset Management L.P. made a new investment in MidCap Financial Investment Corporation (MFIC), acquiring 230,000 shares valued at approximately $2.96 million.
• MidCap Financial announced a quarterly dividend of $0.38 per share, resulting in an annualized dividend of $1.52 and a yield of 11.6%.
• Institutional investors collectively own 28.45% of MidCap Financial's stock, with several hedge funds increasing their stakes significantly in recent quarters.

1832 Asset Management L.P. acquired a new position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 230,000 shares of the company's stock, valued at approximately $2,958,000. 1832 Asset Management L.P. owned 0.25% of MidCap Financial Investment at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MFIC. Castlekeep Investment Advisors LLC bought a new position in MidCap Financial Investment during the 4th quarter worth $16,771,000. Ethos Financial Group LLC increased its stake in MidCap Financial Investment by 2,074.6% during the 1st quarter. Ethos Financial Group LLC now owns 415,948 shares of the company's stock worth $5,361,000 after acquiring an additional 396,820 shares during the period. CF Capital LLC bought a new position in MidCap Financial Investment during the 4th quarter worth $2,799,000. Ares Management LLC increased its stake in MidCap Financial Investment by 55.5% during the 4th quarter. Ares Management LLC now owns 482,032 shares of the company's stock worth $6,503,000 after acquiring an additional 172,032 shares during the period. Finally, LPL Financial LLC increased its stake in MidCap Financial Investment by 32.7% during the 1st quarter. LPL Financial LLC now owns 562,137 shares of the company's stock worth $7,229,000 after acquiring an additional 138,454 shares during the period. Institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Trading Up 1.5%

NASDAQ MFIC opened at $13.13 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49. MidCap Financial Investment Corporation has a twelve month low of $10.18 and a twelve month high of $14.74. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 12.16 and a beta of 0.99. The business's fifty day moving average is $12.77 and its 200 day moving average is $12.76.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%.The company had revenue of $81.25 million for the quarter, compared to the consensus estimate of $81.70 million. As a group, sell-side analysts expect that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.52 annualized dividend and a dividend yield of 11.6%. MidCap Financial Investment's dividend payout ratio (DPR) is 140.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MFIC shares. Wells Fargo & Company lowered their price objective on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, Truist Financial decreased their price target on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $13.50.

MidCap Financial Investment Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.

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