MidCap Financial Investment (NASDAQ:MFIC) Earns "Sector Perform" Rating from Royal Bank Of Canada

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 reaffirmed by Royal Bank Of Canada in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $13.00 target price on the stock. Royal Bank Of Canada's price target would suggest a potential downside of 1.66% from the stock's current price.

A number of other analysts have also issued reports on MFIC. Keefe, Bruyette & Woods lowered shares of MidCap Financial Investment from an "outperform" rating to a "market perform" rating and set a $14.00 target price for the company. in a research note on Wednesday, July 23rd. 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 research report on Monday, April 28th. Finally, Truist Financial cut their target price on MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, MidCap Financial Investment has a consensus rating of "Hold" and an average target price of $13.30.

MidCap Financial Investment Trading Up 0.1%

MFIC traded up $0.01 during trading on Monday, reaching $13.22. The company had a trading volume of 236,405 shares, compared to its average volume of 351,178. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49. The business has a 50 day simple moving average of $12.86 and a 200-day simple moving average of $12.75. The stock has a market cap of $1.23 billion, a P/E ratio of 12.24 and a beta of 0.99. MidCap Financial Investment has a 52 week low of $10.18 and a 52 week high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its earnings results 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. MidCap Financial Investment had a net margin of 30.60% and a return on equity of 10.44%. The firm had revenue of $81.25 million during the quarter, compared to analyst estimates of $81.70 million. On average, equities analysts anticipate that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC acquired a new stake in MidCap Financial Investment during the second quarter worth $189,382,000. Castlekeep Investment Advisors LLC acquired a new position in shares of MidCap Financial Investment in the 4th quarter worth approximately $16,771,000. Next Capital Management LLC boosted its position in shares of MidCap Financial Investment by 329.0% during the 2nd quarter. Next Capital Management LLC now owns 725,401 shares of the company's stock worth $9,155,000 after purchasing an additional 556,316 shares during the period. Cura Wealth Advisors LLC raised its holdings in shares of MidCap Financial Investment by 354.2% in the 1st quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company's stock valued at $8,341,000 after buying an additional 505,807 shares during the period. Finally, Ethos Financial Group LLC grew its position in MidCap Financial Investment by 2,074.6% in the 1st quarter. Ethos Financial Group LLC now owns 415,948 shares of the company's stock valued at $5,361,000 after acquiring an additional 396,820 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.