MidCap Financial Investment (NASDAQ:MFIC) Reaches New 12-Month Low - Here's What Happened

Key Points

• MFIC shares fell to a new 52-week low, trading as low as $8.97 versus a prior close of $9.06, with the stock below both its 50-day and 200-day moving averages.
• Analysts broadly reduced their price targets, resulting in a consensus “Hold” rating and an average target of $11.11; ratings include two Buys, six Holds, and one Sell.
• The company reported quarterly EPS of $0.40, beating estimates of $0.37, and declared a $0.31 quarterly dividend—an annualized $1.24 payout and approximately 13.8% yield.

MidCap Financial Investment Corporation (NASDAQ:MFIC - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $8.97 and last traded at $8.9650, with a volume of 139142 shares traded. The stock had previously closed at $9.06.

Analysts Set New Price Targets

MFIC has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on MidCap Financial Investment from $10.00 to $9.50 and set a "neutral" rating for the company in a report on Thursday, July 2nd. Truist Financial dropped their price objective on shares of MidCap Financial Investment from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, August 7th. Wells Fargo & Company cut their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, August 10th. Weiss Ratings lowered shares of MidCap Financial Investment from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada cut their price target on shares of MidCap Financial Investment from $11.00 to $10.00 and set a "sector perform" rating for the company in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of "Hold" and a consensus target price of $11.11.

MidCap Financial Investment Price Performance

The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.78 and a current ratio of 3.78. The stock's 50-day moving average is $9.56 and its two-hundred day moving average is $10.34. The stock has a market cap of $740.09 million, a PE ratio of -24.96 and a beta of 0.61.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. The business had revenue of ($9.12) million during the quarter, compared to analysts' expectations of $67.80 million. MidCap Financial Investment had a positive return on equity of 11.17% and a negative net margin of 9.85%. On average, equities analysts predict that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 13.8%. MidCap Financial Investment's dividend payout ratio is currently -344.44%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LB Partners LLC purchased a new position in MidCap Financial Investment in the first quarter worth approximately $112,000. Kingsview Wealth Management LLC purchased a new stake in shares of MidCap Financial Investment in the 4th quarter valued at approximately $115,000. Fifth Third Bancorp purchased a new stake in shares of MidCap Financial Investment in the 1st quarter valued at approximately $119,000. World Investment Advisors acquired a new stake in shares of MidCap Financial Investment in the 4th quarter valued at $150,000. Finally, Empowered Funds LLC purchased a new stake in shares of MidCap Financial Investment during the 1st quarter worth $158,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

About MidCap Financial Investment

MidCap Financial Investment Corporation NASDAQ: MFIC is a non-diversified business development company that provides financing to privately held, middle-market companies. The company primarily invests in senior secured loans, including first-lien and unitranche facilities, and may also invest in subordinated debt and equity securities.

MFIC seeks to support companies across a range of industries and typically focuses on businesses with established operations and experienced management teams.

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