MidCap Financial Investment (NASDAQ:MFIC) Hits New 1-Year Low - Here's What Happened

Key Points

• MidCap Financial Investment (NASDAQ: MFIC) hit a new 52-week low, trading as low as $9.47 after closing at $9.78 the previous session.
• Analyst sentiment remains cautious: JPMorgan cut its price target to $9.50, and the stock’s consensus rating is Hold with a consensus target price of $11.46.
• The company recently reported quarterly EPS of $0.38, beating estimates, and paid a $0.31 quarterly dividend, which annualizes to a 12.9% yield.

MidCap Financial Investment Corporation (NASDAQ:MFIC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.47 and last traded at $9.5450, with a volume of 254316 shares changing hands. The stock had previously closed at $9.78.

Analyst Ratings Changes

MFIC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $10.00 to $9.50 and set a "neutral" rating on the stock in a research report on Thursday, July 2nd. Wall Street Zen upgraded MidCap Financial Investment from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Weiss Ratings cut MidCap Financial Investment from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $11.46.

MidCap Financial Investment Stock Performance

The stock has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $10.89. The stock has a market cap of $789.10 million, a P/E ratio of 239.56 and a beta of 0.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 4.42 and a current ratio of 4.42.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.06. The company had revenue of ($17.79) million for the quarter, compared to analyst estimates of $74.62 million. MidCap Financial Investment had a return on equity of 10.86% and a net margin of 1.90%. On average, equities analysts expect that MidCap Financial Investment Corporation will post 1.38 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were paid a $0.31 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $1.24 annualized dividend and a yield of 12.9%. MidCap Financial Investment's payout ratio is presently 3,100.00%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its position in MidCap Financial Investment by 4.3% during the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company's stock worth $308,000 after acquiring an additional 1,000 shares during the last quarter. AlphaCore Capital LLC grew its position in shares of MidCap Financial Investment by 8.6% in the fourth quarter. AlphaCore Capital LLC now owns 12,914 shares of the company's stock valued at $148,000 after purchasing an additional 1,025 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of MidCap Financial Investment by 1.2% during the second quarter. Confluence Investment Management LLC now owns 118,551 shares of the company's stock worth $1,195,000 after purchasing an additional 1,369 shares during the period. Camelot Portfolios LLC increased its stake in shares of MidCap Financial Investment by 2.2% during the third quarter. Camelot Portfolios LLC now owns 63,262 shares of the company's stock worth $759,000 after purchasing an additional 1,378 shares during the period. Finally, Meridian Investment Counsel Inc. lifted its holdings in MidCap Financial Investment by 3.7% during the 1st quarter. Meridian Investment Counsel Inc. now owns 39,113 shares of the company's stock worth $440,000 after purchasing an additional 1,400 shares during the last quarter. 28.45% of the stock is owned by institutional investors.

MidCap Financial Investment Company 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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