MidCap Financial Investment (NASDAQ:MFIC) Announces Quarterly Earnings Results

Key Points

• MidCap Financial Investment reported **$0.39 earnings per share (EPS)** for the quarter, beating analysts' expectations of $0.37.
• The company has an **average analyst rating of "Hold"** with a consensus price target of **$13.50**, following recent downgrades from several brokerage firms.
• **28.45% of MidCap Financial's stock is owned by institutional investors**, highlighting growing interest from larger investment firms.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02, Zacks reports. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. The company had revenue of $81.25 million for the quarter, compared to the consensus estimate of $81.70 million.

MidCap Financial Investment Stock Down 0.3%

NASDAQ:MFIC traded down $0.05 during trading hours on Friday, hitting $12.99. 25,715 shares of the company's stock traded hands, compared to its average volume of 438,127. The firm has a market cap of $1.21 billion, a P/E ratio of 12.02 and a beta of 0.99. MidCap Financial Investment has a twelve month low of $10.18 and a twelve month high of $14.74. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.98 and a current ratio of 3.53. The stock's fifty day moving average price is $12.74 and its two-hundred day moving average price is $12.82.

MidCap Financial Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders 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 11.7%. The ex-dividend date of this dividend is Tuesday, September 9th. MidCap Financial Investment's dividend payout ratio is currently 140.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in MidCap Financial Investment by 16.6% during the second quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company's stock valued at $5,081,000 after buying an additional 57,406 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in MidCap Financial Investment by 11.5% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 271,547 shares of the company's stock valued at $3,427,000 after buying an additional 27,977 shares during the period. NewEdge Advisors LLC raised 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 valued at $308,000 after buying an additional 1,000 shares during the period. Brevan Howard Capital Management LP raised its position in MidCap Financial Investment by 9.0% during the second quarter. Brevan Howard Capital Management LP now owns 23,780 shares of the company's stock valued at $300,000 after buying an additional 1,966 shares during the period. Finally, Quantbot Technologies LP acquired a new position in MidCap Financial Investment in the 2nd quarter worth about $230,000. 28.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MFIC has been the topic of several analyst reports. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 price objective on the stock. in a report on Wednesday, July 23rd. Wells Fargo & Company lowered their price objective on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Truist Financial lowered their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. reduced their price target on MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.50.

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.