Garner Asset Management Corp Makes New $1.70 Million Investment in MidCap Financial Investment Corporation (NASDAQ:MFIC)

Garner Asset Management Corp purchased a new position in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 131,863 shares of the company's stock, valued at approximately $1,696,000. Garner Asset Management Corp owned about 0.14% of MidCap Financial Investment as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MFIC. J.W. Cole Advisors Inc. raised its stake in shares of MidCap Financial Investment by 29.2% in the 1st quarter. J.W. Cole Advisors Inc. now owns 105,647 shares of the company's stock valued at $1,359,000 after purchasing an additional 23,891 shares during the period. Denali Advisors LLC raised its stake in shares of MidCap Financial Investment by 11.3% in the 1st quarter. Denali Advisors LLC now owns 90,006 shares of the company's stock valued at $1,157,000 after purchasing an additional 9,103 shares during the period. Muzinich & Co. Inc. raised its stake in shares of MidCap Financial Investment by 22.9% in the 1st quarter. Muzinich & Co. Inc. now owns 238,427 shares of the company's stock valued at $3,066,000 after purchasing an additional 44,385 shares during the period. Graypoint LLC raised its stake in shares of MidCap Financial Investment by 2.9% in the 1st quarter. Graypoint LLC now owns 181,252 shares of the company's stock valued at $2,331,000 after purchasing an additional 5,098 shares during the period. Finally, Castlekeep Investment Advisors LLC raised its stake in shares of MidCap Financial Investment by 331.8% in the 1st quarter. Castlekeep Investment Advisors LLC now owns 388,822 shares of the company's stock valued at $5,000,000 after purchasing an additional 298,782 shares during the period. 28.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MFIC. Wells Fargo & Company lowered their target price 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. JPMorgan Chase & Co. reduced their price target on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods cut MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price target for the company. in a report on Wednesday. Finally, Truist Financial reduced their price target on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.92.

MidCap Financial Investment Trading Up 0.2%

NASDAQ MFIC traded up $0.02 on Friday, reaching $13.05. The company had a trading volume of 63,507 shares, compared to its average volume of 444,906. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 10.52 and a beta of 0.97. MidCap Financial Investment Corporation has a fifty-two week low of $10.18 and a fifty-two week high of $14.74. The business has a 50 day moving average of $12.79 and a two-hundred day moving average of $12.89. The company has a debt-to-equity ratio of 1.39, a current ratio of 5.98 and a quick ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $78.70 million during the quarter, compared to analyst estimates of $82.49 million. MidCap Financial Investment had a net margin of 33.21% and a return on equity of 10.66%. Analysts forecast that MidCap Financial Investment Corporation will post 1.73 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 11.65%. MidCap Financial Investment's dividend payout ratio (DPR) is presently 122.58%.

MidCap Financial Investment 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.