Wells Fargo & Company Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $14.00

MidCap Financial Investment (NASDAQ:MFIC) had its price target lowered by Wells Fargo & Company from $15.00 to $14.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

MFIC has been the subject of several other research reports. JPMorgan Chase & Co. decreased their target price on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Monday, August 5th. Finally, Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.86.

MidCap Financial Investment Price Performance

NASDAQ MFIC opened at $13.28 on Tuesday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.51. MidCap Financial Investment has a 1 year low of $12.26 and a 1 year high of $16.36. The company has a market cap of $1.25 billion, a PE ratio of 7.77 and a beta of 1.50. The stock’s 50-day moving average price is $13.53 and its two-hundred day moving average price is $14.48.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $69.16 million for the quarter, compared to analyst estimates of $68.02 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. On average, analysts predict that MidCap Financial Investment will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.45%. MidCap Financial Investment’s dividend payout ratio (DPR) is 88.89%.

Hedge Funds Weigh In On MidCap Financial Investment

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in MidCap Financial Investment in the first quarter valued at approximately $532,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of MidCap Financial Investment by 19.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock valued at $3,984,000 after purchasing an additional 42,723 shares in the last quarter. MQS Management LLC acquired a new stake in shares of MidCap Financial Investment in the 2nd quarter valued at $575,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in MidCap Financial Investment by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company’s stock worth $2,739,000 after buying an additional 1,057 shares during the last quarter. Finally, Condor Capital Management increased its position in MidCap Financial Investment by 16.3% during the second quarter. Condor Capital Management now owns 306,024 shares of the company’s stock worth $4,633,000 after buying an additional 42,939 shares during the last quarter. Institutional investors and hedge funds own 28.45% of the company’s stock.

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.