Foundations Investment Advisors LLC Grows Stake in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Key Points

• Foundations Investment Advisors LLC increased its stake in MidCap Financial Investment Corporation by 6.8%, acquiring an additional 27,346 shares, bringing its total ownership to approximately 0.46% of the company valued at about $5,496,000.
• MidCap Financial Investment recently announced a quarterly dividend of $0.38 per share, representing an annualized yield of 11.77%, despite a high payout ratio of 122.58%.
• Analysts have been reassessing MidCap Financial Investment's stock, with target prices ranging widely, including downgrades from firms like Keefe, Bruyette & Woods and Wells Fargo, affecting its consensus rating of "Hold" with a target price of $13.50.

Foundations Investment Advisors LLC raised its position in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,380 shares of the company's stock after purchasing an additional 27,346 shares during the quarter. Foundations Investment Advisors LLC owned 0.46% of MidCap Financial Investment worth $5,496,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in shares of MidCap Financial Investment by 247.7% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,728 shares of the company's stock worth $91,000 after acquiring an additional 4,793 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of MidCap Financial Investment during the fourth quarter valued at approximately $156,000. HB Wealth Management LLC boosted its position in shares of MidCap Financial Investment by 18.2% during the first 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 during the last quarter. MQS Management LLC purchased a new position in MidCap Financial Investment in the first quarter worth $162,000. Finally, StoneX Group Inc. purchased a new position in MidCap Financial Investment in the fourth quarter worth $180,000. 28.45% of the stock is currently owned by institutional investors.

MidCap Financial Investment Price Performance

NASDAQ MFIC traded down $0.31 during trading on Friday, reaching $12.30. The company's stock had a trading volume of 148,667 shares, compared to its average volume of 442,760. The stock has a market capitalization of $1.15 billion, a PE ratio of 9.90 and a beta of 0.97. The company has a debt-to-equity ratio of 1.39, a current ratio of 5.98 and a quick ratio of 5.98. The firm has a fifty day moving average of $12.79 and a 200 day moving average of $12.88. MidCap Financial Investment Corporation has a one year low of $10.18 and a one year high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The business had revenue of $78.70 million during the quarter, compared to the consensus estimate of $82.49 million. MidCap Financial Investment had a return on equity of 10.66% and a net margin of 33.21%. Analysts expect that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, June 10th. This represents a $1.52 annualized dividend and a dividend yield of 12.4%. MidCap Financial Investment's dividend payout ratio is 122.58%.

Wall Street Analysts Forecast Growth

MFIC has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their price target on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. 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. Finally, Truist Financial dropped their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.