Legal & General Group Plc raised its stake in MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) by 30.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 620,824 shares of the company's stock after buying an additional 145,402 shares during the period. Legal & General Group Plc owned about 0.66% of MidCap Financial Investment worth $8,372,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MFIC. Anchor Investment Management LLC bought a new position in MidCap Financial Investment during the third quarter valued at approximately $35,000. Allworth Financial LP raised its position in MidCap Financial Investment by 197.8% during the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company's stock valued at $35,000 after purchasing an additional 1,699 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in MidCap Financial Investment by 247.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 6,728 shares of the company's stock worth $91,000 after buying an additional 4,793 shares during the period. Entropy Technologies LP bought a new stake in shares of MidCap Financial Investment in the 4th quarter worth approximately $155,000. Finally, StoneX Group Inc. purchased a new position in shares of MidCap Financial Investment during the fourth quarter valued at approximately $180,000. 28.45% of the stock is owned by institutional investors.
MidCap Financial Investment Stock Performance
NASDAQ MFIC traded up $0.15 during trading hours on Thursday, hitting $11.99. 80,803 shares of the company's stock traded hands, compared to its average volume of 415,980. The business's fifty day moving average price is $12.73 and its two-hundred day moving average price is $13.33. The firm has a market capitalization of $1.12 billion, a P/E ratio of 7.68 and a beta of 1.13. MidCap Financial Investment Co. has a 52 week low of $10.18 and a 52 week high of $16.37. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25.
MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $82.16 million for the quarter, compared to analysts' expectations of $86.28 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. Equities research analysts predict that MidCap Financial Investment Co. will post 1.73 EPS for the current year.
MidCap Financial Investment Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 11th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 12.68%. The ex-dividend date was Tuesday, March 11th. MidCap Financial Investment's payout ratio is presently 116.03%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MFIC. JPMorgan Chase & Co. decreased their price objective on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a report on Thursday. Wells Fargo & Company reduced their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods reduced their price target on MidCap Financial Investment from $15.00 to $14.50 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $14.00.
Read Our Latest Analysis on MidCap Financial Investment
MidCap Financial Investment Profile
(
Free Report)
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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