Wellington Management Group LLP Takes $10.87 Million Position in MidCap Financial Investment Corporation $MFIC

Key Points

• Wellington Management Group acquired 1.08 million MidCap Financial Investment shares worth approximately $10.87 million, representing a 1.31% stake. Institutional investors collectively own 28.45% of the company.
• MFIC reported quarterly EPS of $0.40, beating estimates of $0.37, although revenue was negative $9.12 million versus expectations of $67.8 million. The company declared a quarterly dividend of $0.31, implying a 12.9% annualized yield.
• Shares opened at $9.62, near their one-year low, while analysts maintain a consensus “Hold” rating with an $11.11 price target; several firms recently lowered their targets.

Wellington Management Group LLP purchased a new position in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,078,291 shares of the company's stock, valued at approximately $10,869,000. Wellington Management Group LLP owned about 1.31% of MidCap Financial Investment at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Caxton Associates LLP bought a new stake in MidCap Financial Investment in the first quarter valued at approximately $166,000. Quantbot Technologies LP bought a new position in shares of MidCap Financial Investment in the second quarter worth approximately $230,000. NewEdge Advisors LLC increased its stake in shares of MidCap Financial Investment by 4.3% in the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company's stock worth $308,000 after buying an additional 1,000 shares during the period. Jane Street Group LLC purchased a new position in shares of MidCap Financial Investment in the second quarter worth $191,000. Finally, Ameriprise Financial Inc. raised its holdings in MidCap Financial Investment by 16.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company's stock valued at $5,081,000 after buying an additional 57,406 shares during the last quarter. 28.45% of the stock is owned by hedge funds and other institutional investors.

MidCap Financial Investment Price Performance

MFIC stock opened at $9.62 on Tuesday. The firm has a 50-day moving average of $9.74 and a 200 day moving average of $10.47. The company has a market cap of $792.40 million, a P/E ratio of -26.72 and a beta of 0.61. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.78 and a quick ratio of 3.78. MidCap Financial Investment Corporation has a 1 year low of $9.28 and a 1 year high of $13.19.

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

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Tuesday, September 8th. MidCap Financial Investment's dividend payout ratio is currently -344.44%.

Analyst Ratings Changes

Several brokerages have weighed in on MFIC. JPMorgan Chase & Co. dropped their price target on shares of MidCap Financial Investment from $10.00 to $9.50 and set a "neutral" rating for the company in a research report on Thursday, July 2nd. Wells Fargo & Company lowered their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, August 10th. Royal Bank Of Canada lowered their price objective on shares of MidCap Financial Investment from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 12th. Truist Financial dropped their target price on shares of MidCap Financial Investment from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings cut MidCap Financial Investment from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $11.11.

MidCap Financial Investment Profile

MidCap Financial Investment Corporation NASDAQ: MFIC is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.

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