Ameriprise Financial Inc. Acquires 60,759 Shares of MidCap Financial Investment Co. (NASDAQ:MFIC)

Ameriprise Financial Inc. grew its position in MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) by 23.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 320,415 shares of the company's stock after buying an additional 60,759 shares during the period. Ameriprise Financial Inc. owned approximately 0.34% of MidCap Financial Investment worth $4,322,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MFIC. Van ECK Associates Corp raised its stake in MidCap Financial Investment by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company's stock valued at $32,005,000 after purchasing an additional 102,406 shares during the period. Legal & General Group Plc lifted its stake in shares of MidCap Financial Investment by 30.6% in the 4th quarter. Legal & General Group Plc now owns 620,824 shares of the company's stock valued at $8,372,000 after purchasing an additional 145,402 shares during the last quarter. Ares Management LLC increased its position in MidCap Financial Investment by 55.5% during 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. Advisors Asset Management Inc. lifted its stake in MidCap Financial Investment by 4.1% in the fourth quarter. Advisors Asset Management Inc. now owns 462,577 shares of the company's stock worth $6,240,000 after purchasing an additional 18,046 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of MidCap Financial Investment by 15.3% in the fourth quarter. Franklin Resources Inc. now owns 442,643 shares of the company's stock worth $5,971,000 after purchasing an additional 58,589 shares during the last quarter. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MFIC. Wells Fargo & Company cut their price target on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Truist Financial cut their price target on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of MidCap Financial Investment from $15.00 to $14.50 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

MidCap Financial Investment Price Performance

MFIC stock traded down $0.04 during midday trading on Friday, hitting $13.05. 45,670 shares of the stock were exchanged, compared to its average volume of 462,808. MidCap Financial Investment Co. has a fifty-two week low of $10.18 and a fifty-two week high of $16.36. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 8.36 and a beta of 1.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The stock's 50-day moving average price is $12.15 and its 200-day moving average price is $13.16.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its quarterly 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). MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The company had revenue of $78.70 million during the quarter, compared to analyst estimates of $82.49 million. Research analysts predict that MidCap Financial Investment Co. will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 11.65%. The ex-dividend date is Tuesday, June 10th. MidCap Financial Investment's dividend payout ratio (DPR) is 122.58%.

About MidCap Financial Investment

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.