Royal Bank Of Canada Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $10.00

MidCap Financial Investment (NASDAQ:MFIC) had its price target reduced by Royal Bank Of Canada from $11.00 to $10.00 in a report published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

MFIC has been the subject of several other reports. Wall Street Zen raised MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Truist Financial cut their price target on shares of MidCap Financial Investment from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, August 7th. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, Wells Fargo & Company decreased their price objective on shares of MidCap Financial Investment from $10.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.11.

MidCap Financial Investment Price Performance

NASDAQ:MFIC opened at $9.75 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 3.78 and a quick ratio of 3.78. MidCap Financial Investment has a one year low of $9.28 and a one year high of $13.34. The company has a fifty day moving average price of $9.85 and a 200 day moving average price of $10.64. The stock has a market cap of $803.11 million, a P/E ratio of -27.08 and a beta of 0.61.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of ($9.12) million for the quarter, compared to the consensus estimate of $67.80 million. MidCap Financial Investment had a negative net margin of 9.85% and a positive return on equity of 11.17%. Analysts anticipate that MidCap Financial Investment will post 1.42 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Tuesday, September 8th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $1.24 dividend on an annualized basis and a yield of 12.7%. MidCap Financial Investment’s dividend payout ratio is currently -344.44%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caxton Associates LLP bought a new position in shares of MidCap Financial Investment in the first quarter worth $166,000. Quantbot Technologies LP bought a new position in MidCap Financial Investment in the second quarter valued at about $230,000. NewEdge Advisors LLC boosted its stake in shares of MidCap Financial Investment by 4.3% in the 2nd quarter. NewEdge Advisors LLC now owns 24,430 shares of the company’s stock valued at $308,000 after purchasing an additional 1,000 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of MidCap Financial Investment during the 2nd quarter valued at approximately $191,000. Finally, Ameriprise Financial Inc. grew its position in MidCap Financial Investment by 16.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 402,636 shares of the company’s stock worth $5,081,000 after acquiring an additional 57,406 shares during the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

About MidCap Financial Investment

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.