Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in MidCap Financial Investment Co. (NASDAQ:MFIC)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 180,756 shares of the company’s stock after buying an additional 946 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in MidCap Financial Investment were worth $2,420,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MFIC. Van ECK Associates Corp increased its position in MidCap Financial Investment by 49.9% during 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position 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 buying an additional 10,669 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in 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 buying an additional 58,188 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in MidCap Financial Investment during the 3rd quarter valued at about $4,172,000. Finally, Condor Capital Management increased its position in MidCap Financial Investment by 16.3% during the 2nd quarter. Condor Capital Management now owns 306,024 shares of the company’s stock valued at $4,633,000 after buying an additional 42,939 shares in the last quarter. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MFIC shares. JPMorgan Chase & Co. reduced their target price on 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. Wells Fargo & Company cut their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a report 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 objective on the stock in a report on Monday, August 5th. Finally, Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.86.

MidCap Financial Investment Stock Up 0.5 %

Shares of MFIC stock opened at $13.82 on Tuesday. The firm has a market capitalization of $1.30 billion, a PE ratio of 8.81 and a beta of 1.50. MidCap Financial Investment Co. has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The stock’s 50-day simple moving average is $13.46 and its 200-day simple moving average is $14.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.02 and a current ratio of 8.51.

MidCap Financial Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.00%. The ex-dividend date is Tuesday, December 10th. MidCap Financial Investment’s dividend payout ratio (DPR) is 97.44%.

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.