Orrstown Financial Services Inc. Makes New $183,000 Investment in MidCap Financial Investment Co. (NASDAQ:MFIC)

Orrstown Financial Services Inc. bought a new position in MidCap Financial Investment Co. (NASDAQ:MFIC) in the third quarter, HoldingsChannel reports. The fund bought 13,640 shares of the company’s stock, valued at approximately $183,000.

A number of other hedge funds have also bought and sold shares of the business. J.W. Cole Advisors Inc. purchased a new position in MidCap Financial Investment in the 3rd quarter worth about $628,000. Arkadios Wealth Advisors raised its position in MidCap Financial Investment by 12.1% in the 3rd quarter. Arkadios Wealth Advisors now owns 115,871 shares of the company’s stock worth $1,552,000 after buying an additional 12,509 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MidCap Financial Investment by 4.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,962 shares of the company’s stock valued at $294,000 after purchasing an additional 837 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of MidCap Financial Investment by 22.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 321,316 shares of the company’s stock valued at $4,302,000 after purchasing an additional 58,188 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of MidCap Financial Investment by 1,208.0% during the 3rd quarter. International Assets Investment Management LLC now owns 281,672 shares of the company’s stock valued at $3,772,000 after purchasing an additional 260,137 shares during the period. Hedge funds and other institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Trading Down 1.3 %

Shares of NASDAQ:MFIC opened at $13.37 on Wednesday. The stock has a 50 day moving average of $13.55 and a 200 day moving average of $14.51. The company has a market cap of $872.43 million, a PE ratio of 7.64 and a beta of 1.50. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.51. MidCap Financial Investment Co. has a 12-month low of $12.26 and a 12-month high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities research analysts expect that MidCap Financial Investment Co. will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 11.37%. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 10th. MidCap Financial Investment’s dividend payout ratio is presently 86.86%.

Analyst Ratings Changes

A number of research firms have issued reports on MFIC. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company cut their price target on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MidCap Financial Investment has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

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.