Confluence Investment Management LLC Buys 75,407 Shares of 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 lifted its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 84.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,155 shares of the company's stock after buying an additional 75,407 shares during the quarter. Confluence Investment Management LLC owned about 0.18% of MidCap Financial Investment worth $2,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MFIC. Cura Wealth Advisors LLC raised its stake in MidCap Financial Investment by 354.2% during the 1st quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company's stock valued at $8,341,000 after purchasing an additional 505,807 shares during the period. Ethos Financial Group LLC grew its holdings in MidCap Financial Investment by 2,074.6% during the 1st quarter. Ethos Financial Group LLC now owns 415,948 shares of the company's stock valued at $5,361,000 after buying an additional 396,820 shares in the last quarter. Castlekeep Investment Advisors LLC grew its holdings in MidCap Financial Investment by 331.8% during the 1st quarter. Castlekeep Investment Advisors LLC now owns 388,822 shares of the company's stock valued at $5,000,000 after buying an additional 298,782 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in MidCap Financial Investment during the 1st quarter valued at approximately $2,958,000. Finally, Callodine Capital Management LP grew its holdings in MidCap Financial Investment by 66.5% during the 1st quarter. Callodine Capital Management LP now owns 409,850 shares of the company's stock valued at $5,271,000 after buying an additional 163,633 shares in the last quarter. Institutional investors own 28.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MFIC. Keefe, Bruyette & Woods lowered shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price objective for the company. in a report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $13.00 price objective on shares of MidCap Financial Investment in a report on Monday, August 25th. 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, the company has a consensus rating of "Hold" and an average target price of $13.30.

MidCap Financial Investment Stock Performance

Shares of MidCap Financial Investment stock opened at $12.47 on Friday. The stock's fifty day moving average is $12.93 and its two-hundred day moving average is $12.62. The company has a market capitalization of $1.16 billion, a PE ratio of 11.55 and a beta of 1.05. 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.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $81.25 million for 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, analysts expect that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

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 issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding MFIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.