Van ECK Associates Corp Acquires 121,523 Shares of MidCap Financial Investment Corporation $MFIC

Van ECK Associates Corp increased its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,511,678 shares of the company’s stock after acquiring an additional 121,523 shares during the period. Van ECK Associates Corp’s holdings in MidCap Financial Investment were worth $30,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MFIC. Naviter Wealth LLC boosted its holdings in MidCap Financial Investment by 0.4% during the third quarter. Naviter Wealth LLC now owns 204,109 shares of the company’s stock valued at $2,447,000 after purchasing an additional 850 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of MidCap Financial Investment by 4.3% during the second quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock valued at $308,000 after acquiring an additional 1,000 shares during the period. ProShare Advisors LLC boosted its stake in shares of MidCap Financial Investment by 5.8% in the 3rd quarter. ProShare Advisors LLC now owns 19,622 shares of the company’s stock valued at $235,000 after purchasing an additional 1,076 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of MidCap Financial Investment by 1.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 77,277 shares of the company’s stock worth $975,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of MidCap Financial Investment by 20.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 6,706 shares of the company’s stock worth $85,000 after purchasing an additional 1,147 shares in the last quarter. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Price Performance

MidCap Financial Investment stock opened at $10.20 on Thursday. The business’s 50-day simple moving average is $11.10 and its 200 day simple moving average is $11.73. The company has a quick ratio of 6.65, a current ratio of 6.65 and a debt-to-equity ratio of 1.53. The stock has a market cap of $940.54 million, a price-to-earnings ratio of 15.45 and a beta of 0.78. MidCap Financial Investment Corporation has a 12-month low of $9.48 and a 12-month high of $13.51.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The firm had revenue of ($1.38) million during the quarter, compared to analysts’ expectations of $78.87 million. MidCap Financial Investment had a return on equity of 10.43% and a net margin of 19.69%. As a group, research analysts anticipate that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 12.2%. The ex-dividend date is Tuesday, March 10th. MidCap Financial Investment’s dividend payout ratio is currently 187.88%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MFIC shares. Wells Fargo & Company reduced their price target on shares of MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings restated a “hold (c)” rating on shares of MidCap Financial Investment in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods cut their price objective on MidCap Financial Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a research report on Tuesday. Royal Bank Of Canada decreased their target price on MidCap Financial Investment from $13.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. Finally, Zacks Research raised MidCap Financial Investment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.75.

MidCap Financial Investment Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.