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

Key Points

• MFIC fell to a new 52-week low of $9.00, with the stock trading below both its 50-day and 200-day moving averages. Its market capitalization is approximately $750 million.
• Analyst sentiment is mostly neutral: six analysts rate the stock “Hold,” two rate it “Buy,” and one rates it “Sell.” The consensus price target is $11.11, although several firms recently lowered their targets.
• The company reported quarterly EPS of $0.40, exceeding estimates of $0.37, and declared a quarterly dividend of $0.31. The dividend implies a high annualized yield of approximately 13.6%.

MidCap Financial Investment Corporation (NASDAQ:MFIC - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $9.00 and last traded at $9.0620, with a volume of 3755 shares changing hands. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

MFIC has been the topic of a number of recent research reports. Weiss Ratings cut shares of MidCap Financial Investment from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Royal Bank Of Canada lowered their target price on 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. Truist Financial dropped their price target on MidCap Financial Investment from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $10.00 to $9.50 and set a "neutral" rating on the stock in a report on Thursday, July 2nd. Finally, Wells Fargo & Company reduced their price objective on 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. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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 has a market capitalization of $750.39 million, a price-to-earnings ratio of -25.36 and a beta of 0.61. The business's 50 day simple moving average is $9.66 and its 200-day simple moving average is $10.41.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its quarterly earnings results 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. MidCap Financial Investment had a positive return on equity of 11.17% and a negative net margin of 9.85%.The company had revenue of ($9.12) million for the quarter, compared to analysts' expectations of $67.80 million. Research analysts anticipate that MidCap Financial Investment Corporation will post 1.49 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Tuesday, September 8th will be given a $0.31 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $1.24 annualized dividend and a yield of 13.6%. MidCap Financial Investment's payout ratio is -344.44%.

Institutional Investors Weigh In On MidCap Financial Investment

Several institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of MidCap Financial Investment by 730,509.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,113,333 shares of the company's stock worth $47,057,000 after buying an additional 4,112,770 shares during the last quarter. Next Capital Management LLC boosted its holdings in MidCap Financial Investment by 26.1% during the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company's stock valued at $21,037,000 after acquiring an additional 387,303 shares during the period. UBS Group AG grew its position in shares of MidCap Financial Investment by 2.0% in the third quarter. UBS Group AG now owns 1,701,175 shares of the company's stock valued at $20,397,000 after purchasing an additional 33,887 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of MidCap Financial Investment during the 2nd quarter worth about $10,869,000. Finally, Invesco Ltd. boosted its stake in MidCap Financial Investment by 3.5% during the 4th quarter. Invesco Ltd. now owns 911,041 shares of the company's stock valued at $10,422,000 after purchasing an additional 30,604 shares during the period. Institutional investors and hedge funds own 28.45% of the company's stock.

MidCap Financial Investment Company Profile

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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