Allspring Global Investments Holdings LLC Reduces Holdings in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Allspring Global Investments Holdings LLC decreased its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 85.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 278,489 shares of the company's stock after selling 1,700,600 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of MidCap Financial Investment worth $3,579,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Castlekeep Investment Advisors LLC purchased a new stake in shares of MidCap Financial Investment during the fourth quarter worth about $16,771,000. Legal & General Group Plc boosted its position in MidCap Financial Investment by 30.6% in the fourth quarter. Legal & General Group Plc now owns 620,824 shares of the company's stock valued at $8,372,000 after buying an additional 145,402 shares during the last quarter. Ares Management LLC boosted its position in MidCap Financial Investment by 55.5% in the fourth quarter. Ares Management LLC now owns 482,032 shares of the company's stock valued at $6,503,000 after buying an additional 172,032 shares during the last quarter. Advisors Asset Management Inc. boosted its position in MidCap Financial Investment by 4.1% in the fourth quarter. Advisors Asset Management Inc. now owns 462,577 shares of the company's stock valued at $6,240,000 after buying an additional 18,046 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in MidCap Financial Investment by 15.3% in the fourth quarter. Franklin Resources Inc. now owns 442,643 shares of the company's stock valued at $5,971,000 after buying an additional 58,589 shares during the last quarter. Hedge funds and other institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Stock Performance

NASDAQ:MFIC traded up $0.26 during trading hours on Thursday, reaching $13.02. The company had a trading volume of 359,672 shares, compared to its average volume of 452,327. MidCap Financial Investment Corporation has a 1-year low of $10.18 and a 1-year high of $15.70. The firm has a market cap of $1.21 billion, a PE ratio of 10.50 and a beta of 0.97. The business's 50 day moving average price is $12.58 and its 200-day moving average price is $12.92. The company has a debt-to-equity ratio of 1.39, a current ratio of 5.98 and a quick ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). MidCap Financial Investment had a net margin of 33.21% and a return on equity of 10.66%. The company had revenue of $78.70 million during the quarter, compared to analyst estimates of $82.49 million. Research analysts forecast that MidCap Financial Investment Corporation will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.67%. The ex-dividend date of this dividend was Tuesday, June 10th. MidCap Financial Investment's payout ratio is 122.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MFIC shares. JPMorgan Chase & Co. dropped their target price on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Truist Financial dropped their target price 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, Keefe, Bruyette & Woods dropped their target price on MidCap Financial Investment from $15.00 to $14.50 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

About MidCap Financial Investment

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.