MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Large Decline in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 321,800 shares, a decrease of 21.1% from the October 15th total of 407,700 shares. Based on an average daily trading volume, of 399,000 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On MidCap Financial Investment

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its stake in shares of MidCap Financial Investment by 49.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock valued at $30,079,000 after buying an additional 755,436 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in MidCap Financial Investment by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock worth $28,880,000 after buying an additional 10,669 shares during the last quarter. Advisors Asset Management Inc. increased its stake in MidCap Financial Investment by 139.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock worth $5,952,000 after acquiring an additional 258,940 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in MidCap Financial Investment by 22.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 321,316 shares of the company’s stock worth $4,302,000 after acquiring an additional 58,188 shares in the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in MidCap Financial Investment in the third quarter worth approximately $4,172,000. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Trading Up 1.0 %

MFIC traded up $0.14 on Friday, reaching $13.75. 301,065 shares of the company’s stock were exchanged, compared to its average volume of 325,179. MidCap Financial Investment has a twelve month low of $12.26 and a twelve month high of $16.36. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 8.80 and a beta of 1.50. The company’s 50 day moving average is $13.46 and its 200-day moving average is $14.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.02 and a current ratio of 8.51.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.05%. The ex-dividend date is Tuesday, December 10th. MidCap Financial Investment’s dividend payout ratio is currently 97.44%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MFIC shares. Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their target price on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Monday, August 5th. Finally, Wells Fargo & Company dropped their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Moderate Buy” and an average price target of $14.86.

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.