MidCap Financial Investment Corporation (NASDAQ:MFIC) Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management Inc. sold 67,132 shares of MidCap Financial Investment Corporation, reducing its position by 60% and holding 44,824 shares thereafter, valued at $576,000.
• Wells Fargo & Company and other analysts lowered their price targets for MidCap Financial Investment, with ratings ranging from "buy" to "hold" and an average target now at $13.50.
• MidCap Financial Investment reported earnings of $0.37 EPS for the last quarter, which fell short of the consensus estimate of $0.39 EPS, along with revenue of $78.70 million, below expectations of $82.49 million.

Envestnet Asset Management Inc. reduced its stake in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 60.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 44,824 shares of the company's stock after selling 67,132 shares during the quarter. Envestnet Asset Management Inc.'s holdings in MidCap Financial Investment were worth $576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in MidCap Financial Investment in the first quarter valued at approximately $292,000. D.A. Davidson & CO. grew its stake in shares of MidCap Financial Investment by 4.8% in the first quarter. D.A. Davidson & CO. now owns 312,923 shares of the company's stock valued at $4,024,000 after buying an additional 14,442 shares in the last quarter. Naviter Wealth LLC increased its stake in MidCap Financial Investment by 5.9% during the first quarter. Naviter Wealth LLC now owns 197,494 shares of the company's stock worth $2,575,000 after purchasing an additional 10,989 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of MidCap Financial Investment by 23.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 232,584 shares of the company's stock worth $2,991,000 after purchasing an additional 44,385 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 28.45% of the company's stock.

Analysts Set New Price Targets

MFIC has been the subject of a number of research reports. Truist Financial dropped their price objective on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Keefe, Bruyette & Woods downgraded shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price target for the company. in a research note on Wednesday, July 23rd. Wells Fargo & Company cut their price objective on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their target price on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $13.50.

MidCap Financial Investment Stock Up 1.0%

Shares of NASDAQ:MFIC traded up $0.13 during trading hours on Friday, reaching $12.59. The stock had a trading volume of 383,537 shares, compared to its average volume of 441,149. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.99. The firm's 50 day moving average is $12.75 and its 200-day moving average is $12.85. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 1.39, a quick ratio of 5.98 and a current ratio of 5.98.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). MidCap Financial Investment had a return on equity of 10.66% and a net margin of 33.21%. The business had revenue of $78.70 million for the quarter, compared to analyst estimates of $82.49 million. Research analysts predict that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current fiscal year.

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.