Brokerages Set MidCap Financial Investment Co. (NASDAQ:MFIC) Target Price at $15.00

MidCap Financial Investment Co. (NASDAQ:MFIC) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.00.

A number of brokerages have recently weighed in on MFIC. 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. JPMorgan Chase & Co. cut their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut their price objective on shares of MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

MidCap Financial Investment Trading Down 0.8 %

MidCap Financial Investment stock opened at $13.41 on Thursday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.02 and a current ratio of 3.02. The stock has a market cap of $875.04 million, a PE ratio of 7.66 and a beta of 1.50. The stock has a 50-day moving average of $13.54 and a two-hundred day moving average of $14.64. MidCap Financial Investment has a one year low of $12.26 and a one year high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. The company had revenue of $69.16 million for the quarter, compared to the consensus estimate of $68.02 million. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, research analysts anticipate that MidCap Financial Investment will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.33%. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 10th. MidCap Financial Investment’s payout ratio is 86.86%.

Institutional Investors Weigh In On MidCap Financial Investment

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its holdings in MidCap Financial Investment by 17.6% in the second quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock valued at $22,932,000 after purchasing an additional 226,313 shares during the period. Condor Capital Management grew its stake in MidCap Financial Investment by 16.3% in the 2nd quarter. Condor Capital Management now owns 306,024 shares of the company’s stock valued at $4,633,000 after acquiring an additional 42,939 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in MidCap Financial Investment by 19.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock worth $3,984,000 after acquiring an additional 42,723 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in MidCap Financial Investment during the second quarter worth $578,000. Finally, MQS Management LLC acquired a new stake in shares of MidCap Financial Investment in the second quarter valued at about $575,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

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.