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

MidCap Financial Investment (NASDAQ:MFIC)‘s stock had its “sector perform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $14.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 1.67% from the company’s previous close.

A number of other equities analysts also recently weighed in on MFIC. Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, July 25th. 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, October 29th. Keefe, Bruyette & Woods raised 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, MidCap Financial Investment currently has a consensus rating of “Moderate Buy” and an average price target of $14.71.

MidCap Financial Investment Stock Performance

Shares of MFIC opened at $13.77 on Tuesday. MidCap Financial Investment has a 52 week low of $12.26 and a 52 week high of $16.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The company has a market capitalization of $1.29 billion, a PE ratio of 8.83 and a beta of 1.50. The company’s 50 day moving average price is $13.46 and its 200 day moving average price is $14.34.

Hedge Funds Weigh In On MidCap Financial Investment

A number of institutional investors have recently modified their holdings of MFIC. Van ECK Associates Corp grew its stake in MidCap Financial Investment by 49.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock valued at $30,079,000 after buying an additional 755,436 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in MidCap Financial Investment by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock valued at $28,880,000 after purchasing an additional 10,669 shares during the period. Advisors Asset Management Inc. increased its position in MidCap Financial Investment by 139.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock worth $5,952,000 after buying an additional 258,940 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of MidCap Financial Investment by 22.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 321,316 shares of the company’s stock worth $4,302,000 after buying an additional 58,188 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in MidCap Financial Investment during the third quarter worth $4,172,000. Institutional investors own 28.45% of the company’s stock.

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.