MidCap Financial Investment Co. (NASDAQ:MFIC) Stake Lowered by Next Capital Management LLC

Next Capital Management LLC cut its stake in MidCap Financial Investment Co. (NASDAQ:MFIC) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,728 shares of the company’s stock after selling 13,152 shares during the period. MidCap Financial Investment accounts for approximately 1.0% of Next Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Next Capital Management LLC owned 0.19% of MidCap Financial Investment worth $2,357,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its stake in shares of MidCap Financial Investment by 71.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock worth $26,000 after buying an additional 809 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of MidCap Financial Investment during the third quarter worth $35,000. Allworth Financial LP lifted its stake in MidCap Financial Investment by 197.8% in the fourth quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock valued at $35,000 after acquiring an additional 1,699 shares during the last quarter. Westchester Capital Management LLC bought a new position in shares of MidCap Financial Investment in the 3rd quarter valued at approximately $103,000. Finally, Entropy Technologies LP bought a new position in MidCap Financial Investment in the 4th quarter worth $155,000. 28.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MFIC shares. Wells Fargo & Company lowered their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $14.00 price target on shares of MidCap Financial Investment in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MidCap Financial Investment presently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

MidCap Financial Investment Stock Performance

MFIC opened at $12.97 on Wednesday. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 8.31 and a beta of 1.49. The business has a 50 day moving average of $13.72 and a 200-day moving average of $13.64. MidCap Financial Investment Co. has a 12-month low of $12.26 and a 12-month high of $16.37. The company has a quick ratio of 8.51, a current ratio of 8.51 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The business had revenue of $82.16 million during the quarter, compared to the consensus estimate of $86.28 million. On average, equities research analysts expect that MidCap Financial Investment Co. will post 1.73 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 11th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.52 annualized dividend and a dividend yield of 11.72%. MidCap Financial Investment’s dividend payout ratio is currently 116.03%.

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.