BI Asset Management Fondsmaeglerselskab A S Raises Position in 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 position in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 63.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 243,570 shares of the company's stock after acquiring an additional 94,468 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.26% of MidCap Financial Investment worth $3,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Ethos Financial Group LLC increased its stake in MidCap Financial Investment by 2,074.6% in the first quarter. Ethos Financial Group LLC now owns 415,948 shares of the company's stock valued at $5,361,000 after acquiring an additional 396,820 shares during the last quarter. Fox Run Management L.L.C. bought a new position in MidCap Financial Investment in the first quarter valued at $372,000. Kovitz Investment Group Partners LLC increased its stake in MidCap Financial Investment by 83.8% in the first quarter. Kovitz Investment Group Partners LLC now owns 109,666 shares of the company's stock valued at $1,410,000 after acquiring an additional 50,000 shares during the last quarter. Anfield Capital Management LLC increased its stake in MidCap Financial Investment by 42.1% in the first quarter. Anfield Capital Management LLC now owns 8,352 shares of the company's stock valued at $107,000 after acquiring an additional 2,473 shares during the last quarter. Finally, Invesco Ltd. increased its stake in MidCap Financial Investment by 16.8% in the first quarter. Invesco Ltd. now owns 878,563 shares of the company's stock valued at $11,298,000 after acquiring an additional 126,156 shares during the last quarter. Institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Trading Down 0.8%

Shares of MidCap Financial Investment stock traded down $0.1050 during trading on Monday, reaching $13.0250. 211,684 shares of the stock were exchanged, compared to its average volume of 435,874. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49. The stock's fifty day moving average is $12.77 and its 200 day moving average is $12.76. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 12.06 and a beta of 0.99. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74.

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

MidCap Financial Investment Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is currently 140.74%.

Analyst Ratings Changes

MFIC has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Truist Financial reduced their price objective 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. 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 note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $13.00 price objective on shares of MidCap Financial Investment in a research note on Monday. Two 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 a consensus price target 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.