MidCap Financial Investment Corporation $MFIC Shares Bought by Callodine Capital Management LP

Key Points

• Callodine Capital Management LP increased its stake in MidCap Financial Investment Corporation by 66.5%, acquiring an additional 163,633 shares for a total of 409,850 shares valued at approximately $5.27 million.
• Several institutional investors have also increased their positions in MFIC, with Envestnet Asset Management raising its stake by 270% in the fourth quarter.
• MidCap Financial recently announced a quarterly dividend of $0.38 per share, translating to an 11.6% annual yield, despite a high dividend payout ratio of 140.74%.

Callodine Capital Management LP boosted its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 66.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 409,850 shares of the company's stock after acquiring an additional 163,633 shares during the quarter. Callodine Capital Management LP owned 0.44% of MidCap Financial Investment worth $5,271,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wealth Preservation Advisors LLC purchased a new position in MidCap Financial Investment in the 1st quarter valued at $26,000. Anfield Capital Management LLC raised its stake in MidCap Financial Investment by 42.1% during the first quarter. Anfield Capital Management LLC now owns 8,352 shares of the company's stock worth $107,000 after purchasing an additional 2,473 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in MidCap Financial Investment in the 4th quarter valued at about $156,000. HB Wealth Management LLC boosted its holdings in MidCap Financial Investment by 18.2% in the 1st quarter. HB Wealth Management LLC now owns 12,446 shares of the company's stock valued at $160,000 after purchasing an additional 1,914 shares during the last quarter. Finally, MQS Management LLC acquired a new position in MidCap Financial Investment in the 1st quarter valued at about $162,000. Institutional investors and hedge funds own 28.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MFIC shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $13.00 target price on shares of MidCap Financial Investment in a report on Monday, August 25th. Keefe, Bruyette & Woods lowered 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 report on Wednesday, July 23rd. Finally, Truist Financial decreased their target price on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a report 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, the stock has a consensus rating of "Hold" and a consensus price target of $13.30.

MidCap Financial Investment Trading Up 0.1%

MFIC traded up $0.01 on Monday, hitting $13.22. The company had a trading volume of 236,405 shares, compared to its average volume of 344,907. The firm has a market cap of $1.23 billion, a P/E ratio of 12.24 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. The company's fifty day moving average price is $12.86 and its 200 day moving average price is $12.72. 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 released its 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. The company 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, equities 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 announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment's payout ratio is currently 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.