1832 Asset Management L.P. Acquires Shares of 230,000 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 stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 230,000 shares of the company's stock, valued at approximately $2,958,000. 1832 Asset Management L.P. owned approximately 0.25% of MidCap Financial Investment at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MFIC. Anfield Capital Management LLC raised its holdings in shares of MidCap Financial Investment by 42.1% during the 1st quarter. Anfield Capital Management LLC now owns 8,352 shares of the company's stock worth $107,000 after buying an additional 2,473 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in MidCap Financial Investment during the 4th quarter worth $156,000. HB Wealth Management LLC grew its position in MidCap Financial Investment by 18.2% during the 1st quarter. HB Wealth Management LLC now owns 12,446 shares of the company's stock worth $160,000 after acquiring an additional 1,914 shares during the last quarter. MQS Management LLC bought a new stake in MidCap Financial Investment during the 1st quarter worth $162,000. Finally, Accel Wealth Management grew its position in MidCap Financial Investment by 8.5% during the 1st quarter. Accel Wealth Management now owns 13,651 shares of the company's stock worth $176,000 after acquiring an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 28.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price objective on the stock. in a research report on Wednesday, July 23rd. Truist Financial reduced their price target on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $13.00 price target on shares of MidCap Financial Investment in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.30.

MidCap Financial Investment Trading Up 0.1%

Shares of MidCap Financial Investment stock traded up $0.01 on Friday, hitting $13.22. 236,405 shares of the company's stock traded hands, compared to its average volume of 351,178. MidCap Financial Investment Corporation has a one year low of $10.18 and a one year high of $14.74. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 3.53. The company has a fifty day moving average of $12.86 and a two-hundred day moving average of $12.74. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.24 and a beta of 0.99.

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

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio (DPR) is presently 140.74%.

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.