Condor Capital Management Increases Position in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Key Points

• Condor Capital Management increased its stake in MidCap Financial Investment Corporation by 7.8%, owning a total of 397,086 shares worth approximately $5.1 million after acquiring an additional 28,901 shares.
• Recent analyst reports have lowered price targets for MidCap Financial, with Wells Fargo and Truist Financial adjusting their expectations from $14.00 to $13.00 and from $16.00 to $15.00, respectively.
• MidCap Financial Investment reported an earnings miss for Q1, with earnings per share of $0.37 against an expected $0.39, and revenue of $78.70 million compared to estimates of $82.49 million.

Condor Capital Management lifted its position in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,086 shares of the company's stock after acquiring an additional 28,901 shares during the period. Condor Capital Management owned 0.43% of MidCap Financial Investment worth $5,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of MidCap Financial Investment by 17.4% during the 4th quarter. JPMorgan Chase & Co. now owns 166,230 shares of the company's stock worth $2,242,000 after acquiring an additional 24,590 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in MidCap Financial Investment by 270.0% in the 4th 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. Legal & General Group Plc raised its holdings in MidCap Financial Investment by 30.6% in the 4th quarter. Legal & General Group Plc now owns 620,824 shares of the company's stock valued at $8,372,000 after acquiring an additional 145,402 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MidCap Financial Investment during the 4th quarter worth approximately $937,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of MidCap Financial Investment by 2.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 68,202 shares of the company's stock worth $920,000 after buying an additional 1,851 shares during the last quarter. 28.45% of the stock is owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Performance

NASDAQ MFIC traded up $0.03 during trading on Monday, reaching $12.62. The company's stock had a trading volume of 442,845 shares, compared to its average volume of 337,209. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 7.58 and a beta of 0.99. MidCap Financial Investment Corporation has a twelve month low of $10.18 and a twelve month high of $14.74. The business's fifty day moving average price is $12.73 and its 200-day moving average price is $12.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 5.98 and a current ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. MidCap Financial Investment had a net margin of 33.21% and a return on equity of 10.66%. As a group, analysts anticipate that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MFIC. 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 for the company. in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their price objective on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. decreased their price objective on shares of MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial reduced their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $13.50.

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.