MidCap Financial Investment Corporation $MFIC Shares Acquired by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC has significantly increased its stake in MidCap Financial Investment Corporation by 83.8%, now owning 109,666 shares valued at approximately $1.41 million.
• MidCap Financial Investment recently reported earnings of $0.39 EPS, exceeding expectations, but its revenue of $81.25 million fell short of analyst estimates of $81.70 million.
• The company declared a quarterly dividend of $0.38 per share, reflecting an annualized dividend of $1.52 and a yield of 11.7%, but has a high payout ratio of 140.74%.

Kovitz Investment Group Partners LLC raised its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 83.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,666 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.12% of MidCap Financial Investment worth $1,410,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of MidCap Financial Investment by 17.4% in the 4th quarter. JPMorgan Chase & Co. now owns 166,230 shares of the company's stock worth $2,242,000 after buying an additional 24,590 shares during the period. Envestnet Asset Management Inc. increased its stake in MidCap Financial Investment by 270.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 111,956 shares of the company's stock worth $1,510,000 after acquiring an additional 81,695 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of MidCap Financial Investment in the 4th quarter worth about $937,000. Rockefeller Capital Management L.P. raised its holdings in shares of MidCap Financial Investment by 2.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 68,202 shares of the company's stock worth $920,000 after purchasing an additional 1,851 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of MidCap Financial Investment by 86.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149,102 shares of the company's stock valued at $2,011,000 after purchasing an additional 68,984 shares in the last quarter. 28.45% of the stock is owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Performance

NASDAQ:MFIC traded up $0.19 during trading hours on Friday, reaching $13.13. 416,779 shares of the stock were exchanged, compared to its average volume of 367,368. The stock has a market capitalization of $1.23 billion, a P/E ratio of 12.16 and a beta of 0.99. The firm has a 50 day simple moving average of $12.77 and a 200-day simple moving average of $12.76. 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 posted its quarterly earnings results on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The business had revenue of $81.25 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $1.52 annualized dividend and a dividend yield of 11.6%. MidCap Financial Investment's dividend payout ratio is presently 140.74%.

Wall Street Analysts Forecast Growth

Several research firms recently commented 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 target on the stock. in a report on Wednesday, July 23rd. Wells Fargo & Company reduced their target price on shares of MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Truist Financial decreased their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.