MidCap Financial Investment Co. (NASDAQ:MFIC) Stake Boosted by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in MidCap Financial Investment Co. (NASDAQ:MFIC) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,196,306 shares of the company’s stock after purchasing an additional 114,587 shares during the period. Van ECK Associates Corp owned 1.83% of MidCap Financial Investment worth $16,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in MidCap Financial Investment by 63.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 6,021 shares of the company’s stock worth $83,000 after buying an additional 2,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MidCap Financial Investment during the third quarter valued at $179,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of MidCap Financial Investment by 6.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company’s stock valued at $192,000 after purchasing an additional 883 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in MidCap Financial Investment by 10.0% in the third quarter. Janney Montgomery Scott LLC now owns 20,683 shares of the company’s stock worth $284,000 after purchasing an additional 1,882 shares during the period. Finally, Truist Financial Corp bought a new position in MidCap Financial Investment in the 4th quarter valued at about $286,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MFIC. JPMorgan Chase & Co. upped their price target on shares of MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Citigroup upped their target price on MidCap Financial Investment from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Wells Fargo & Company lifted their price target on MidCap Financial Investment from $13.00 to $14.50 and gave the company an “overweight” rating in a research report on Monday, January 29th. Royal Bank of Canada upped their price objective on MidCap Financial Investment from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. Finally, Truist Financial lifted their target price on MidCap Financial Investment from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.79.

MidCap Financial Investment Stock Performance

MFIC opened at $15.29 on Thursday. The business has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $13.99. The firm has a market cap of $997.67 million, a PE ratio of 8.40 and a beta of 1.47. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.45. MidCap Financial Investment Co. has a fifty-two week low of $10.78 and a fifty-two week high of $15.38.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $71.95 million during the quarter, compared to analyst estimates of $68.44 million. MidCap Financial Investment had a net margin of 42.95% and a return on equity of 15.50%. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, equities analysts predict that MidCap Financial Investment Co. will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.94%. The ex-dividend date was Monday, March 11th. MidCap Financial Investment’s payout ratio is 83.52%.

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.