MidCap Financial Investment Corporation $MFIC Holdings Decreased by Beach Point Capital Management LP

Key Points

• Beach Point Capital Management cut its MFIC stake by 45.4% in the third quarter, selling 200,000 shares and retaining 240,361 shares worth approximately $2.1 million. Institutional investors collectively own 28.45% of the company.
• MFIC shares opened at $8.26, near their 52-week low of $8.14, while the company announced a quarterly dividend of $0.31 per share, representing a 15.0% annualized yield.
• Analyst sentiment remains cautious: MFIC has a consensus “Hold” rating and an average price target of $10.71, although quarterly EPS of $0.40 exceeded estimates of $0.37.

Beach Point Capital Management LP lowered its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 45.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,361 shares of the company's stock after selling 200,000 shares during the quarter. MidCap Financial Investment comprises about 0.9% of Beach Point Capital Management LP's portfolio, making the stock its 12th biggest holding. Beach Point Capital Management LP owned 0.29% of MidCap Financial Investment worth $2,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in shares of MidCap Financial Investment during the 2nd quarter worth about $10,869,000. Next Capital Management LLC boosted its holdings in shares of MidCap Financial Investment by 26.1% in the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company's stock valued at $21,037,000 after acquiring an additional 387,303 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of MidCap Financial Investment in the second quarter valued at approximately $995,000. Cidel Asset Management Inc. bought a new position in shares of MidCap Financial Investment in the second quarter valued at approximately $507,000. Finally, Headlands Technologies LLC boosted its holdings in shares of MidCap Financial Investment by 304.1% in the second quarter. Headlands Technologies LLC now owns 51,819 shares of the company's stock valued at $522,000 after acquiring an additional 38,995 shares in the last quarter. Institutional investors and hedge funds own 28.45% of the company's stock.

MidCap Financial Investment Trading Up 0.5%

Shares of NASDAQ:MFIC opened at $8.26 on Wednesday. The stock has a market capitalization of $680.38 million, a price-to-earnings ratio of 5.30 and a beta of 0.62. MidCap Financial Investment Corporation has a 1-year low of $8.14 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.78 and a current ratio of 3.78. The company has a 50 day moving average price of $9.11 and a 200 day moving average price of $10.04.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of ($9.12) million for the quarter, compared to analyst estimates of $67.80 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. On average, research analysts anticipate that MidCap Financial Investment Corporation will post 1.49 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 15.0%. MidCap Financial Investment's payout ratio is -344.44%.

Analysts Set New Price Targets

A number of research firms have weighed in on MFIC. Royal Bank Of Canada cut their target price on MidCap Financial Investment from $11.00 to $10.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 12th. Wells Fargo & Company lowered their price target on MidCap Financial Investment from $10.50 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, August 10th. JPMorgan Chase & Co. lowered their price target on MidCap Financial Investment from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Thursday, July 2nd. Truist Financial dropped their price objective on MidCap Financial Investment from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Finally, Weiss Ratings lowered MidCap Financial Investment from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.71.

About MidCap Financial Investment

MidCap Financial Investment Corporation NASDAQ: MFIC is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing primarily in privately negotiated debt securities and, selectively, equity investments.

Its investments generally include senior secured, first-lien and unitranche loans, as well as second-lien loans, subordinated debt and equity interests. MidCap Financial Investment typically works with companies across a range of industries and emphasizes businesses with established operations, recurring cash flow and experienced management teams.

The company invests primarily in the United States and operates as a regulated business development company under the Investment Company Act of 1940.

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