Confluence Investment Management LLC Raises Stock Holdings in MidCap Financial Investment Corporation $MFIC

Key Points

• Confluence Investment Management LLC increased its stake in MidCap Financial Investment Corporation by 84%, acquiring an additional 75,407 shares during the 2nd quarter.
• Several other institutional investors have also significantly raised their holdings in MidCap Financial, including Cura Wealth Advisors LLC, which increased its stake by 354.2%.
• MidCap Financial recently reported an earnings per share (EPS) of $0.39 for the quarter, beating estimates, and announced a quarterly dividend of $0.38 per share, resulting in a dividend yield of 12.2%.

Confluence Investment Management LLC grew its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 84.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,155 shares of the company's stock after acquiring an additional 75,407 shares during the quarter. Confluence Investment Management LLC owned about 0.18% of MidCap Financial Investment worth $2,084,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wealth Preservation Advisors LLC bought a new stake in shares of MidCap Financial Investment during the 1st quarter valued at about $26,000. Ransom Advisory Ltd bought a new stake in shares of MidCap Financial Investment during the 1st quarter valued at about $28,000. Anfield Capital Management LLC boosted its position in shares of MidCap Financial Investment by 42.1% during the 1st 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. Kingstone Capital Partners Texas LLC bought a new stake in shares of MidCap Financial Investment during the 4th quarter valued at about $156,000. Finally, HB Wealth Management LLC raised its holdings in shares of MidCap Financial Investment by 18.2% during the 1st quarter. HB Wealth Management LLC now owns 12,446 shares of the company's stock valued at $160,000 after buying an additional 1,914 shares in the last quarter. Institutional investors own 28.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MFIC shares. Royal Bank Of Canada reissued a "sector perform" rating and set a $13.00 price objective on shares of MidCap Financial Investment in a report on Monday, August 25th. 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 report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, MidCap Financial Investment currently has an average rating of "Hold" and an average target price of $13.30.

MidCap Financial Investment Price Performance

Shares of MFIC remained flat at $12.29 during mid-day trading on Friday. The stock had a trading volume of 79,944 shares, compared to its average volume of 432,621. 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 Corporation has a 52-week low of $10.18 and a 52-week high of $14.74. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 11.38 and a beta of 1.05. The business has a 50-day simple moving average of $12.88 and a 200-day simple moving average of $12.59.

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 (EPS) for the quarter, beating the consensus estimate 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. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 12.4%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is presently 140.74%.

About MidCap Financial Investment

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.