MidCap Financial Investment Co. (NASDAQ:MFIC) Short Interest Down 19.8% in September

by · The Cerbat Gem

MidCap Financial Investment Co. (NASDAQ:MFIC – Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 436,100 shares, a drop of 19.8% from the September 15th total of 544,100 shares. Based on an average trading volume of 501,900 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On MidCap Financial Investment

A number of institutional investors and hedge funds have recently bought and sold shares of MFIC. SG Americas Securities LLC bought a new stake in shares of MidCap Financial Investment in the first quarter worth $532,000. Hennion & Walsh Asset Management Inc. raised its holdings in 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 worth $3,984,000 after purchasing an additional 42,723 shares during the last quarter. MQS Management LLC acquired a new position in MidCap Financial Investment in the second quarter valued at $575,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of MidCap Financial Investment by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company’s stock valued at $2,739,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Condor Capital Management grew its position in shares of MidCap Financial Investment by 16.3% during the 2nd 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 period. Institutional investors and hedge funds own 28.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MFIC. JPMorgan Chase & Co. reduced their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, July 29th. Compass Point raised 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. Wells Fargo & Company dropped their price target on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, MidCap Financial Investment has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Read Our Latest Research Report on MidCap Financial Investment

MidCap Financial Investment Stock Performance

MidCap Financial Investment stock traded down $0.11 during midday trading on Friday, hitting $13.41. The company’s stock had a trading volume of 373,770 shares, compared to its average volume of 321,468. The company has a 50-day moving average price of $13.54 and a two-hundred day moving average price of $14.64. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02. The company has a market cap of $875.04 million, a price-to-earnings ratio of 7.66 and a beta of 1.50.

MidCap Financial Investment (NASDAQ:MFIC – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. The firm had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $68.02 million. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, sell-side analysts predict that MidCap Financial Investment will post 1.72 earnings per share for the current year.

MidCap Financial Investment Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date was Tuesday, September 10th. This is a boost from MidCap Financial Investment’s previous quarterly dividend of $0.20. MidCap Financial Investment’s payout ratio is presently 86.86%.

About MidCap Financial Investment

(Get Free Report)

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.

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