Wells Fargo & Company Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $14.00

MidCap Financial Investment (NASDAQ:MFIC) had its price objective dropped by investment analysts at Wells Fargo & Company from $15.00 to $14.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 2.30% from the stock’s current price.

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $14.00 target price on shares of MidCap Financial Investment in a report on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.71.

MidCap Financial Investment Price Performance

MFIC stock traded down $0.07 during mid-day trading on Thursday, hitting $13.69. 182,477 shares of the stock were exchanged, compared to its average volume of 344,049. MidCap Financial Investment has a 12 month low of $12.26 and a 12 month high of $16.36. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. The business has a fifty day moving average price of $13.82 and a 200 day moving average price of $13.69. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.77 and a beta of 1.48.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $82.16 million for the quarter, compared to analyst estimates of $86.28 million. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. On average, sell-side analysts anticipate that MidCap Financial Investment will post 1.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. grew its position 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 during the last quarter. Anchor Investment Management LLC purchased a new stake in MidCap Financial Investment in the third quarter worth $35,000. Allworth Financial LP boosted its holdings 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 in the last quarter. Westchester Capital Management LLC purchased a new position in MidCap Financial Investment during the 3rd quarter valued at $103,000. Finally, Entropy Technologies LP bought a new position in MidCap Financial Investment in the 4th quarter worth $155,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

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.