Invesco Ltd. Acquires 126,156 Shares of MidCap Financial Investment Corporation $MFIC

Key Points

• Invesco Ltd. has increased its stake in MidCap Financial Investment Corporation by 16.8%, owning a total of 878,563 shares worth approximately $11.3 million.
• Several institutional investors, including PNC Financial Services Group and HB Wealth Management, have also made significant moves in MFIC stock during the first quarter.
• MidCap Financial Investment recently declared a quarterly dividend of $0.38 per share, yielding 11.6%, with a payout ratio of 140.74%.

Invesco Ltd. grew its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 16.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 878,563 shares of the company's stock after purchasing an additional 126,156 shares during the period. Invesco Ltd. owned about 0.94% of MidCap Financial Investment worth $11,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC acquired a new position in MidCap Financial Investment in the fourth quarter valued at about $16,771,000. LPL Financial LLC boosted its holdings in MidCap Financial Investment by 32.7% during the first quarter. LPL Financial LLC now owns 562,137 shares of the company's stock worth $7,229,000 after purchasing an additional 138,454 shares during the last quarter. Ares Management LLC lifted its stake in MidCap Financial Investment by 55.5% in the fourth quarter. Ares Management LLC now owns 482,032 shares of the company's stock valued at $6,503,000 after acquiring an additional 172,032 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in MidCap Financial Investment by 6.8% in the first quarter. Foundations Investment Advisors LLC now owns 427,380 shares of the company's stock valued at $5,496,000 after acquiring an additional 27,346 shares during the last quarter. Finally, Condor Capital Management raised its position in shares of MidCap Financial Investment by 7.8% in the first quarter. Condor Capital Management now owns 397,086 shares of the company's stock valued at $5,107,000 after purchasing an additional 28,901 shares during the period. Institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Stock Down 1.0%

Shares of NASDAQ MFIC traded down $0.14 during trading on Thursday, hitting $13.18. The stock had a trading volume of 184,596 shares, compared to its average volume of 432,719. The firm has a fifty day moving average of $12.83 and a two-hundred day moving average of $12.76. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 3.53. The company has a market capitalization of $1.23 billion, a PE ratio of 12.18 and a beta of 0.99. MidCap Financial Investment Corporation has a 12 month low of $10.18 and a 12 month high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 30.60% and a return on equity of 10.44%. As a group, equities research analysts forecast that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 11.5%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is 140.74%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MFIC. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $13.00 price target on shares of MidCap Financial Investment in a research report on Monday. Keefe, Bruyette & Woods lowered shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 target price on the stock. in a report on Wednesday, July 23rd. Finally, Truist Financial decreased their target price on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $13.30.

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.