MidCap Financial Investment’s (MFIC) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of MidCap Financial Investment (NASDAQ:MFIC) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

A number of other equities research analysts also recently issued reports 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 report on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research 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 target on the stock in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.71.

MidCap Financial Investment Trading Up 0.1 %

Shares of MFIC opened at $13.83 on Tuesday. MidCap Financial Investment has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The business has a 50-day moving average of $13.45 and a 200 day moving average of $14.35. The firm has a market cap of $1.30 billion, a P/E ratio of 8.86 and a beta of 1.50. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51.

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, December 10th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 10.99%. The ex-dividend date of this dividend is Tuesday, December 10th. MidCap Financial Investment’s payout ratio is currently 97.44%.

Institutional Trading of MidCap Financial Investment

A number of hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in MidCap Financial Investment by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 20,748 shares of the company’s stock valued at $312,000 after acquiring an additional 1,048 shares during the last quarter. Advisors Asset Management Inc. raised its position in MidCap Financial Investment by 11.7% in the 1st quarter. Advisors Asset Management Inc. now owns 141,318 shares of the company’s stock worth $2,125,000 after purchasing an additional 14,779 shares during the period. Virtu Financial LLC lifted its stake in MidCap Financial Investment by 11.8% in the first quarter. Virtu Financial LLC now owns 13,559 shares of the company’s stock worth $204,000 after purchasing an additional 1,429 shares during the last quarter. Cetera Advisors LLC purchased a new stake in MidCap Financial Investment during the first quarter valued at about $161,000. Finally, DNB Asset Management AS grew its stake in shares of MidCap Financial Investment by 19.3% during the second quarter. DNB Asset Management AS now owns 169,451 shares of the company’s stock valued at $2,565,000 after buying an additional 27,403 shares during the last quarter. 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.