BI Asset Management Fondsmaeglerselskab A S Purchases 94,468 Shares of MidCap Financial Investment Corporation $MFIC

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in MidCap Financial Investment Corporation by 63.4%, acquiring 94,468 shares to bring its total to 243,570 shares valued at $3.13 million.
• Recently, several analysts have dropped price targets for MidCap Financial Investment, with estimates ranging as low as $11.50 and revised ratings reflecting a mix of "Hold" and "Buy."
• MidCap Financial Investment announced a quarterly dividend of $0.38 per share with an annual yield of 11.7%, despite a high payout ratio of 140.74%.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 63.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,570 shares of the company's stock after purchasing an additional 94,468 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned about 0.26% of MidCap Financial Investment worth $3,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MFIC. JPMorgan Chase & Co. lifted its stake in MidCap Financial Investment by 17.4% in the fourth quarter. JPMorgan Chase & Co. now owns 166,230 shares of the company's stock valued at $2,242,000 after acquiring an additional 24,590 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in MidCap Financial Investment by 270.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 111,956 shares of the company's stock valued at $1,510,000 after acquiring an additional 81,695 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in MidCap Financial Investment in the fourth quarter valued at approximately $937,000. Rockefeller Capital Management L.P. lifted its stake in MidCap Financial Investment by 2.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 68,202 shares of the company's stock valued at $920,000 after acquiring an additional 1,851 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in MidCap Financial Investment by 26.1% in the fourth quarter. Stifel Financial Corp now owns 303,149 shares of the company's stock valued at $4,090,000 after acquiring an additional 62,671 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MFIC has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods downgraded shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 target price on the stock. in a research report on Wednesday, July 23rd. Truist Financial cut their price target on shares of 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 restated a "sector perform" rating and set a $13.00 target price on shares of MidCap Financial Investment in a report on Monday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $13.30.

MidCap Financial Investment Stock Performance

Shares of MFIC traded up $0.03 during midday trading on Tuesday, reaching $13.06. 70,851 shares of the stock were exchanged, compared to its average volume of 434,072. The company has a market cap of $1.22 billion, a P/E ratio of 12.09 and a beta of 0.99. The stock's 50 day simple moving average is $12.79 and its 200 day simple moving average is $12.75. MidCap Financial Investment Corporation has a twelve month low of $10.18 and a twelve month high of $14.74. 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 (NASDAQ:MFIC - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $81.25 million for the quarter, compared to analysts' expectations of $81.70 million. On average, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's payout ratio is 140.74%.

MidCap Financial Investment Company 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.