Legal & General Group Plc Increases Stake in MidCap Financial Investment Corporation $MFIC

Legal & General Group Plc raised its stake in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 651,851 shares of the company’s stock after buying an additional 74,030 shares during the quarter. Legal & General Group Plc owned about 0.70% of MidCap Financial Investment worth $7,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MFIC. Sound Income Strategies LLC grew its holdings in MidCap Financial Investment by 167.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,989 shares of the company’s stock valued at $35,000 after buying an additional 1,871 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in MidCap Financial Investment during the 3rd quarter valued at approximately $55,000. Tower Research Capital LLC TRC grew its holdings in MidCap Financial Investment by 20,580.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,513 shares of the company’s stock valued at $120,000 after buying an additional 9,467 shares in the last quarter. MRA Advisory Group purchased a new stake in MidCap Financial Investment during the 3rd quarter valued at approximately $122,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in MidCap Financial Investment during the 3rd quarter valued at approximately $126,000. 28.45% of the stock is owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Down 3.1%

NASDAQ MFIC opened at $10.48 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 4.42 and a current ratio of 4.42. The company has a market capitalization of $863.24 million, a P/E ratio of 262.07 and a beta of 0.59. MidCap Financial Investment Corporation has a one year low of $9.48 and a one year high of $13.51. The stock has a 50 day moving average price of $11.25 and a 200-day moving average price of $11.29.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Wednesday, May 6th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. The firm had revenue of ($17.79) million during the quarter, compared to the consensus estimate of $74.62 million. MidCap Financial Investment had a return on equity of 10.86% and a net margin of 1.90%. As a group, equities analysts predict that MidCap Financial Investment Corporation will post 1.38 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date is Tuesday, June 9th. MidCap Financial Investment’s dividend payout ratio is currently 3,100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MFIC shares. Wall Street Zen raised shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of MidCap Financial Investment from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Truist Financial cut their price objective on shares of MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Weiss Ratings lowered shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of MidCap Financial Investment from $13.00 to $11.50 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.54.

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.