MidCap Financial Investment Co. (NASDAQ:MFIC) Short Interest Down 21.1% in October

by · The Cerbat Gem

MidCap Financial Investment Co. (NASDAQ:MFIC – Get Free Report) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 321,800 shares, a drop of 21.1% from the October 15th total of 407,700 shares. Based on an average trading volume of 399,000 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in MidCap Financial Investment by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,748 shares of the company’s stock valued at $312,000 after acquiring an additional 1,048 shares during the period. SG Americas Securities LLC bought a new stake in shares of MidCap Financial Investment during the first quarter valued at approximately $532,000. Advisors Asset Management Inc. boosted its stake in shares of MidCap Financial Investment by 11.7% in the 1st quarter. Advisors Asset Management Inc. now owns 141,318 shares of the company’s stock worth $2,125,000 after buying an additional 14,779 shares during the last quarter. Virtu Financial LLC increased its position in MidCap Financial Investment by 11.8% in the first quarter. Virtu Financial LLC now owns 13,559 shares of the company’s stock worth $204,000 after buying an additional 1,429 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in MidCap Financial Investment in the 1st quarter worth approximately $161,000. 28.45% of the stock is owned by institutional investors and hedge funds.

MidCap Financial Investment Trading Up 1.0 %

MFIC stock traded up $0.14 during midday trading on Friday, hitting $13.75. 301,096 shares of the company’s stock were exchanged, compared to its average volume of 360,611. The stock’s fifty day moving average price is $13.46 and its 200-day moving average price is $14.36. MidCap Financial Investment has a one year low of $12.26 and a one year high of $16.36. The company has a market cap of $1.29 billion, a PE ratio of 8.81 and a beta of 1.50. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 10th will be given a $0.38 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.52 annualized dividend and a yield of 11.05%. MidCap Financial Investment’s dividend payout ratio is presently 97.44%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered 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 report on Monday, July 29th. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, July 25th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.86.

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MidCap Financial Investment Company Profile

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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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