Kingstone Capital Partners Texas LLC Takes Position in MidCap Financial Investment Corporation $MFIC

Key Points

• Kingstone Capital Partners Texas LLC acquired a new stake in MidCap Financial Investment Corporation, purchasing approximately 13.8 million shares for around $189 million, giving them a 14.80% ownership at the end of the latest reporting period.
• Analysts have mixed opinions about MidCap Financial Investment, with a consensus rating of "Hold" and a price target averaging $13.30, following recent rating adjustments from firms like Royal Bank of Canada and Keefe, Bruyette & Woods.
• The company has announced a quarterly dividend of $0.38 per share, representing a 12.4% yield, despite a high dividend payout ratio of 140.74%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,812,738 shares of the company's stock, valued at approximately $189,382,000. Kingstone Capital Partners Texas LLC owned about 14.80% of MidCap Financial Investment at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of MidCap Financial Investment by 3.5% during the first quarter. International Assets Investment Management LLC now owns 25,595 shares of the company's stock worth $329,000 after purchasing an additional 876 shares during the last quarter. CW Advisors LLC grew its holdings in MidCap Financial Investment by 3.3% during the first quarter. CW Advisors LLC now owns 29,539 shares of the company's stock worth $380,000 after acquiring an additional 945 shares during the period. Accel Wealth Management grew its holdings in MidCap Financial Investment by 8.5% during the first quarter. Accel Wealth Management now owns 13,651 shares of the company's stock worth $176,000 after acquiring an additional 1,074 shares during the period. Confluence Investment Management LLC grew its holdings in MidCap Financial Investment by 1.2% during the first quarter. Confluence Investment Management LLC now owns 89,748 shares of the company's stock worth $1,154,000 after acquiring an additional 1,104 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in MidCap Financial Investment by 4.0% during the first quarter. Wedbush Securities Inc. now owns 36,291 shares of the company's stock worth $467,000 after acquiring an additional 1,410 shares during the period. Hedge funds and other institutional investors own 28.45% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MFIC shares. 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. Keefe, Bruyette & Woods lowered 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 investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $13.30.

MidCap Financial Investment Trading Up 0.3%

Shares of MidCap Financial Investment stock traded up $0.04 during trading hours on Tuesday, reaching $12.23. The stock had a trading volume of 108,442 shares, compared to its average volume of 434,740. The firm has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $12.56. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.32 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74.

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

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio (DPR) is 140.74%.

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.