MidCap Financial Investment Corporation $MFIC Shares Sold by Apollo Management Holdings L.P.

Key Points

• Apollo Management Holdings L.P. reduced its stake in MidCap Financial Investment Corporation by 3.2%, retaining approximately 2.56% of the company's shares, valued at around $30.7 million.
• MidCap Financial Investment announced a quarterly dividend of $0.38 per share, resulting in an annualized dividend of $1.52 and a yield of 11.5%.
• The company's recent earnings surpassed analyst expectations, with reported earnings of $0.39 per share, compared to a consensus estimate of $0.37.

Apollo Management Holdings L.P. cut its holdings in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,388,852 shares of the company's stock after selling 78,849 shares during the period. MidCap Financial Investment comprises approximately 0.6% of Apollo Management Holdings L.P.'s portfolio, making the stock its 16th biggest holding. Apollo Management Holdings L.P. owned about 2.56% of MidCap Financial Investment worth $30,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new position in shares of MidCap Financial Investment in the fourth quarter worth $16,771,000. Invesco Ltd. raised its position in MidCap Financial Investment by 16.8% during the first quarter. Invesco Ltd. now owns 878,563 shares of the company's stock valued at $11,298,000 after purchasing an additional 126,156 shares in the last quarter. Cura Wealth Advisors LLC increased its holdings in shares of MidCap Financial Investment by 354.2% in the first quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company's stock worth $8,341,000 after buying an additional 505,807 shares during the period. LPL Financial LLC increased its holdings in shares of MidCap Financial Investment by 32.7% in the first quarter. LPL Financial LLC now owns 562,137 shares of the company's stock worth $7,229,000 after buying an additional 138,454 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of MidCap Financial Investment by 6.8% in the first quarter. Foundations Investment Advisors LLC now owns 427,380 shares of the company's stock worth $5,496,000 after purchasing an additional 27,346 shares during the last quarter. 28.45% of the stock is owned by institutional investors.

MidCap Financial Investment Trading Down 0.4%

NASDAQ MFIC traded down $0.05 during trading on Friday, hitting $13.03. The stock had a trading volume of 493,230 shares, compared to its average volume of 329,357. The stock has a 50 day simple moving average of $12.93 and a 200 day simple moving average of $12.70. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.53 and a current ratio of 3.53. MidCap Financial Investment Corporation has a one year low of $10.18 and a one year high of $14.74. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.06 and a beta of 1.05.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings results 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 net margin of 30.60% and a return on equity of 10.44%. The firm had revenue of $81.25 million during the quarter, compared to the consensus estimate of $81.70 million. Sell-side analysts predict that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.7%. MidCap Financial Investment's dividend payout ratio is presently 140.74%.

Analyst Ratings Changes

Several research firms have weighed in on MFIC. Keefe, Bruyette & Woods cut 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $13.00 target price on shares of MidCap Financial Investment in a report on Monday, August 25th. Finally, Truist Financial cut their price target on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of "Hold" and an average target price of $13.30.

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.