JPMorgan Chase & Co. Has Lowered Expectations for MidCap Financial Investment (NASDAQ:MFIC) Stock Price

Key Points

• JPMorgan Chase & Co. has lowered its target price for MidCap Financial Investment stock from $12.50 to $12.00, maintaining a "neutral" rating, suggesting a potential upside of 1.66% from the last close.
• Additional brokerages have also adjusted their ratings on MidCap Financial Investment, with Keefe, Bruyette & Woods downgrading it from "outperform" to "market perform" and setting a target price of $14.00.
• MidCap Financial Investment recently reported a quarterly earnings per share (EPS) of $0.39, surpassing analyst expectations, despite posting revenue lower than anticipated at $81.25 million.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) had its target price dropped by analysts at JPMorgan Chase & Co. from $12.50 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 1.66% from the company's previous close.

A number of other brokerages have also recently commented on MFIC. Keefe, Bruyette & Woods cut shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 target price for the company. in a research report on Wednesday, July 23rd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $13.00 price objective on shares of MidCap Financial Investment in a report on Monday, August 25th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.40.

MidCap Financial Investment Price Performance

Shares of MidCap Financial Investment stock traded down $0.19 during mid-day trading on Wednesday, reaching $11.80. 164,083 shares of the stock traded hands, compared to its average volume of 441,561. The stock has a market capitalization of $1.10 billion, a PE ratio of 10.94 and a beta of 1.05. The business has a 50-day moving average of $12.69 and a 200 day moving average of $12.53. MidCap Financial Investment has a fifty-two week low of $10.18 and a fifty-two week high of $14.74. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $81.25 million during the quarter, compared to analysts' expectations of $81.70 million. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. On average, analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

Hedge Funds Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently modified their holdings of MFIC. Osaic Holdings Inc. raised its stake in shares of MidCap Financial Investment by 1.6% during the 2nd quarter. Osaic Holdings Inc. now owns 95,698 shares of the company's stock worth $1,208,000 after purchasing an additional 1,501 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in MidCap Financial Investment in the 2nd quarter valued at $241,000. CANADA LIFE ASSURANCE Co increased its stake in MidCap Financial Investment by 5.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 93,857 shares of the company's stock worth $1,187,000 after acquiring an additional 4,530 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of MidCap Financial Investment by 20,580.4% in the second quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company's stock worth $120,000 after purchasing an additional 9,467 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in MidCap Financial Investment by 44.5% in the second quarter. Lazard Asset Management LLC now owns 112,935 shares of the company's stock worth $1,425,000 after acquiring an additional 34,800 shares in the last quarter. Hedge funds and other institutional investors own 28.45% of the company's stock.

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.

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