Royal Bank Of Canada Issues Pessimistic Forecast for MidCap Financial Investment (NASDAQ:MFIC) Stock Price

Key Points

• Royal Bank of Canada lowered its price target for MidCap Financial Investment from $11.00 to $10.00 while maintaining a “sector perform” rating, implying approximately 3.67% upside from the current price.
• Analyst sentiment remains cautious: MFIC has a consensus “Hold” rating from nine analysts, with an average price target of $11.11. Wells Fargo, JPMorgan and Truist also recently reduced their targets.
• MFIC shares fell to $9.65, near the lower end of their 52-week range, despite quarterly earnings of $0.40 per share beating estimates of $0.37; institutional investors and hedge funds own 28.45% of the stock.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) had its price objective dropped by equities researchers at Royal Bank Of Canada from $11.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 3.67% from the stock's current price.

Several other research firms have also recently commented on MFIC. Wells Fargo & Company reduced their target price on shares of MidCap Financial Investment from $10.50 to $9.00 and set an "equal weight" rating for the company in a research note on Monday. Wall Street Zen upgraded shares of MidCap Financial Investment from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. JPMorgan Chase & Co. cut their price target on shares of 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 reduced 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 research report on Friday, August 7th. Finally, Weiss Ratings lowered MidCap Financial Investment from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $11.11.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC traded down $0.11 during trading on Wednesday, reaching $9.65. The company had a trading volume of 34,571 shares, compared to its average volume of 815,983. The firm has a market capitalization of $794.54 million, a price-to-earnings ratio of -26.84 and a beta of 0.61. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.78 and a quick ratio of 3.78. The stock's fifty day moving average price is $9.90 and its 200 day moving average price is $10.68. MidCap Financial Investment has a fifty-two week low of $9.28 and a fifty-two week high of $13.34.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of ($9.12) million during the quarter, compared to the consensus estimate of $67.80 million. As a group, equities research analysts predict that MidCap Financial Investment will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MFIC. Advocate Investing Services LLC acquired a new stake in MidCap Financial Investment during the 4th quarter valued at $36,000. BNP Paribas Financial Markets purchased a new stake in shares of MidCap Financial Investment in the third quarter valued at $55,000. Kestra Advisory Services LLC purchased a new stake in shares of MidCap Financial Investment in the fourth quarter valued at $109,000. Tower Research Capital LLC TRC boosted its stake in shares of MidCap Financial Investment by 20,580.4% during the second quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company's stock valued at $120,000 after acquiring an additional 9,467 shares during the last quarter. Finally, LB Partners LLC acquired a new stake in shares of MidCap Financial Investment during the first quarter valued at $112,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

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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