Royal Bank Of Canada Reiterates Sector Perform Rating for MidCap Financial Investment (NASDAQ:MFIC)

Key Points

• The Royal Bank of Canada has reiterated a "sector perform" rating on MidCap Financial Investment (NASDAQ:MFIC) with a price target of $13.00, indicating a potential downside of 0.65% from the current stock price.
• Analyst reports show a mix of ratings for MFIC, with two analysts recommending a "Buy" rating and three suggesting a "Hold," while the consensus price target stands at $13.30.
• MidCap Financial Investment recently reported quarterly earnings of $0.39 per share, exceeding expectations, though revenue of $81.25 million fell short of the estimate of $81.70 million.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report)'s stock had its "sector perform" rating reissued by investment analysts at Royal Bank Of Canada in a research note issued on Monday,Benzinga reports. They presently have a $13.00 price objective on the stock. Royal Bank Of Canada's target price suggests a potential downside of 0.65% from the stock's current price.

Several other analysts also recently issued reports on MFIC. Truist Financial cut their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 target price on the stock. in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their target price on MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.30.

MidCap Financial Investment Price Performance

Shares of NASDAQ MFIC traded down $0.0450 during midday trading on Monday, reaching $13.0850. The company's stock had a trading volume of 89,065 shares, compared to its average volume of 435,119. The company has a 50 day moving average price of $12.77 and a 200 day moving average price of $12.76. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 12.11 and a beta of 0.99. MidCap Financial Investment has a one year low of $10.18 and a one year high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of $81.25 million for the quarter, compared to the consensus estimate of $81.70 million. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. On average, equities research analysts expect that MidCap Financial Investment will post 1.73 EPS for the current year.

Institutional Trading of MidCap Financial Investment

Several large investors have recently modified their holdings of MFIC. Envestnet Asset Management Inc. boosted its holdings in shares of MidCap Financial Investment by 270.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 111,956 shares of the company's stock worth $1,510,000 after buying an additional 81,695 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MidCap Financial Investment during the 4th quarter worth $937,000. Stifel Financial Corp boosted its holdings in shares of MidCap Financial Investment by 26.1% during the 4th quarter. Stifel Financial Corp now owns 303,149 shares of the company's stock worth $4,090,000 after buying an additional 62,671 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of MidCap Financial Investment by 15.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 59,666 shares of the company's stock worth $805,000 after buying an additional 8,000 shares during the period. Finally, Aquatic Capital Management LLC boosted its holdings in shares of MidCap Financial Investment by 102.1% during the 4th quarter. Aquatic Capital Management LLC now owns 29,304 shares of the company's stock worth $395,000 after buying an additional 14,804 shares during the period. 28.45% of the stock is owned by institutional investors.

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.

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