Meridian Investment Counsel Inc. Trims Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

Meridian Investment Counsel Inc. decreased its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 22.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,445 shares of the company’s stock after selling 16,075 shares during the period. Meridian Investment Counsel Inc. owned approximately 0.06% of MidCap Financial Investment worth $734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in MidCap Financial Investment during the 3rd quarter worth approximately $307,000. Quantbot Technologies LP acquired a new stake in shares of MidCap Financial Investment during the third quarter worth $351,000. BNP Paribas Financial Markets purchased a new position in MidCap Financial Investment in the 3rd quarter valued at $238,000. Rockefeller Capital Management L.P. increased its stake in MidCap Financial Investment by 3.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 66,351 shares of the company’s stock valued at $888,000 after buying an additional 2,055 shares during the period. Finally, Paloma Partners Management Co purchased a new position in MidCap Financial Investment during the 3rd quarter worth $234,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Price Performance

MidCap Financial Investment stock opened at $13.04 on Monday. The company has a market cap of $1.22 billion, a P/E ratio of 8.36 and a beta of 1.49. MidCap Financial Investment Co. has a one year low of $12.26 and a one year high of $16.37. The business has a fifty day moving average of $13.68 and a two-hundred day moving average of $13.60. 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 (NASDAQ:MFIC) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The firm had revenue of $82.16 million for the quarter, compared to the consensus estimate of $86.28 million. As a group, analysts predict that MidCap Financial Investment Co. will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Tuesday, March 11th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.52 annualized dividend and a yield of 11.66%. MidCap Financial Investment’s dividend payout ratio is presently 116.03%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.

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.