MidCap Financial Investment Co. (NASDAQ:MFIC) Short Interest Update

MidCap Financial Investment Co. (NASDAQ:MFIC) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 544,100 shares, an increase of 17.3% from the August 31st total of 464,000 shares. Based on an average daily volume of 462,600 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company dropped their price objective on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Three equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

MidCap Financial Investment Trading Up 0.1 %

Shares of NASDAQ:MFIC traded up $0.02 during midday trading on Monday, hitting $13.42. The company had a trading volume of 34,913 shares, compared to its average volume of 316,766. 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 has a 12 month low of $12.26 and a 12 month high of $16.36. The firm has a fifty day simple moving average of $13.76 and a 200 day simple moving average of $14.73. The stock has a market cap of $875.70 million, a price-to-earnings ratio of 7.66 and a beta of 1.50.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $69.16 million during the quarter, compared to analyst estimates 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 earned $0.44 EPS. On average, analysts predict that MidCap Financial Investment will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. This represents a $1.52 annualized dividend and a yield of 11.33%. MidCap Financial Investment’s dividend payout ratio (DPR) is 86.86%.

Hedge Funds Weigh In On MidCap Financial Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp increased its holdings in shares of MidCap Financial Investment by 33.4% in the second quarter. Truist Financial Corp now owns 28,771 shares of the company’s stock worth $436,000 after acquiring an additional 7,200 shares in the last quarter. ProShare Advisors LLC acquired a new stake in MidCap Financial Investment during the 2nd quarter worth approximately $159,000. Sei Investments Co. lifted its stake in MidCap Financial Investment by 19.1% in the second quarter. Sei Investments Co. now owns 45,806 shares of the company’s stock valued at $694,000 after buying an additional 7,353 shares in the last quarter. MQS Management LLC acquired a new position in shares of MidCap Financial Investment in the second quarter valued at approximately $575,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of MidCap Financial Investment during the second quarter worth $162,000. 28.45% of the stock is owned by institutional investors.

About MidCap Financial Investment

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.