Westbourne Investments Inc. Decreases Holdings in MidCap Financial Investment Corporation $MFIC

Key Points

• Westbourne Investments Inc. has significantly reduced its holdings in MidCap Financial Investment Corporation, decreasing by 72.5% to 18,930 shares, valued at $239,000.
• Several hedge funds have increased their investments in MidCap Financial, with Cura Wealth Advisors raising its stake by 354.2% to over $8 million in the first quarter.
• MidCap Financial announced a quarterly dividend of $0.38 per share, resulting in an annualized yield of 12.5%, despite a high dividend payout ratio of 140.74%.

Westbourne Investments Inc. reduced its position in MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 72.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,930 shares of the company's stock after selling 49,884 shares during the period. Westbourne Investments Inc.'s holdings in MidCap Financial Investment were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MFIC. Jane Street Group LLC raised its holdings in MidCap Financial Investment by 64.2% in the 4th quarter. Jane Street Group LLC now owns 57,520 shares of the company's stock worth $776,000 after acquiring an additional 22,487 shares during the last quarter. Ameriprise Financial Inc. grew its position in MidCap Financial Investment by 23.4% in the 4th quarter. Ameriprise Financial Inc. now owns 320,415 shares of the company's stock worth $4,322,000 after purchasing an additional 60,759 shares during the period. Lazard Asset Management LLC bought a new stake in MidCap Financial Investment in the 4th quarter worth approximately $594,000. ProShare Advisors LLC grew its position in MidCap Financial Investment by 63.7% in the 4th quarter. ProShare Advisors LLC now owns 18,141 shares of the company's stock worth $245,000 after purchasing an additional 7,062 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in MidCap Financial Investment in the 4th quarter worth approximately $156,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price objective for the company. in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $13.00 price objective on shares of MidCap Financial Investment in a research report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.30.

MidCap Financial Investment Price Performance

MidCap Financial Investment stock traded up $0.08 during mid-day trading on Friday, hitting $12.37. The stock had a trading volume of 769,076 shares, compared to its average volume of 436,545. The firm has a market capitalization of $1.15 billion, a P/E ratio of 11.45 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. The firm's 50 day moving average is $12.86 and its 200 day moving average is $12.58. MidCap Financial Investment Corporation has a one year low of $10.18 and a one year high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The company had revenue of $81.25 million during the quarter, compared to the consensus estimate of $81.70 million. MidCap Financial Investment had a net margin of 30.60% and a return on equity of 10.44%. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is 140.74%.

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.