Westbourne Investments Inc. Sells 49,884 Shares of 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. decreased its stake in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC - Free Report) by 72.5% during the 2nd quarter, according to the company in its most recent disclosure 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 quarter.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of MidCap Financial Investment by 8.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,667 shares of the company's stock valued at $266,000 after buying an additional 1,578 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted 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 valued at $2,991,000 after buying an additional 44,385 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of MidCap Financial Investment by 23.4% during the fourth quarter. Ameriprise Financial Inc. now owns 320,415 shares of the company's stock valued at $4,322,000 after buying an additional 60,759 shares during the last quarter. Jane Street Group LLC boosted its position in shares of MidCap Financial Investment by 64.2% during the fourth quarter. Jane Street Group LLC now owns 57,520 shares of the company's stock valued at $776,000 after buying an additional 22,487 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of MidCap Financial Investment by 32.7% during the first quarter. LPL Financial LLC now owns 562,137 shares of the company's stock valued at $7,229,000 after buying an additional 138,454 shares during the last quarter. Hedge funds and other institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Price Performance

NASDAQ MFIC traded up $0.08 during trading on Friday, reaching $12.37. The company's stock had a trading volume of 769,076 shares, compared to its average volume of 390,403. The stock has a market capitalization of $1.15 billion, a PE ratio of 11.45 and a beta of 1.05. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 3.53. The firm has a fifty day moving average of $12.86 and a 200 day moving average of $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 announced its earnings results on Monday, August 11th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.02. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%.The business had revenue of $81.25 million for the quarter, compared to analyst estimates of $81.70 million. Analysts expect that MidCap Financial Investment Corporation will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is presently 140.74%.

Wall Street Analyst Weigh In

MFIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price objective on the stock. in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $13.00 price objective on shares of MidCap Financial Investment in a research report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, MidCap Financial Investment currently has a consensus rating of "Hold" and a consensus target price of $13.30.

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.