MidCap Financial Investment (NASDAQ:MFIC) Reaches New 52-Week High at $15.88

MidCap Financial Investment Co. (NASDAQ:MFIC - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $15.88 and last traded at $15.86, with a volume of 31941 shares changing hands. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial increased their price objective on MidCap Financial Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. Citigroup increased their price target on MidCap Financial Investment from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Wells Fargo & Company boosted their price objective on shares of MidCap Financial Investment from $15.50 to $16.00 and gave the company an "overweight" rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on shares of MidCap Financial Investment from $14.00 to $14.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada boosted their price target on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.04.

MidCap Financial Investment Price Performance

The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.76 and a current ratio of 2.76. The stock's fifty day moving average price is $14.97 and its 200-day moving average price is $14.16. The firm has a market cap of $1.03 billion, a PE ratio of 8.98 and a beta of 1.45.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $71.95 million during the quarter, compared to analysts' expectations of $68.44 million. MidCap Financial Investment had a net margin of 41.19% and a return on equity of 11.51%. During the same period last year, the company posted $0.43 earnings per share. As a group, equities analysts forecast that MidCap Financial Investment Co. will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 11th will be given a dividend of $0.38 per share. The ex-dividend date is Monday, June 10th. This represents a $1.52 dividend on an annualized basis and a yield of 9.68%. MidCap Financial Investment's payout ratio is 86.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MFIC. Cambridge Investment Research Advisors Inc. grew its stake in MidCap Financial Investment by 6.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company's stock valued at $192,000 after acquiring an additional 883 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of MidCap Financial Investment by 5.0% in the first quarter. International Assets Investment Management LLC now owns 21,951 shares of the company's stock valued at $327,000 after purchasing an additional 1,041 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of MidCap Financial Investment by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,748 shares of the company's stock worth $312,000 after purchasing an additional 1,048 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of MidCap Financial Investment by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company's stock worth $2,739,000 after purchasing an additional 1,057 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in MidCap Financial Investment by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 67,588 shares of the company's stock valued at $928,000 after buying an additional 1,556 shares in the last quarter. Hedge funds and other institutional investors own 28.45% of the company's stock.

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.