MidCap Financial Investment Corporation (NASDAQ:MFIC) to Issue Quarterly Dividend of $0.31

by · The Markets Daily

MidCap Financial Investment Corporation (NASDAQ:MFIC – Get Free Report) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Tuesday, December 8th will be paid a dividend of $0.31 per share on Tuesday, December 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend is Tuesday, December 8th.

MidCap Financial Investment has a dividend payout ratio of 82.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect MidCap Financial Investment to earn $1.23 per share next year, which means the company may not be able to cover its $1.24 annual dividend with an expected future payout ratio of 100.8%.

MidCap Financial Investment Trading Down 0.6%

Shares of NASDAQ:MFIC opened at $10.27 on Friday. MidCap Financial Investment has a 52-week low of $8.11 and a 52-week high of $12.34. The company has a market capitalization of $845.97 million, a P/E ratio of -28.53 and a beta of 0.59. The company has a 50-day simple moving average of $9.10 and a 200 day simple moving average of $10.24. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.78 and a current ratio of 3.78.

MidCap Financial Investment (NASDAQ:MFIC – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.56). The business had revenue of $61.98 million for the quarter, compared to analyst estimates of $64.43 million. MidCap Financial Investment had a positive return on equity of 11.17% and a negative net margin of 9.85%. Sell-side analysts forecast that MidCap Financial Investment will post 1.49 earnings per share for the current year.

Institutional Investors Weigh In On MidCap Financial Investment

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in shares of MidCap Financial Investment in the second quarter valued at about $10,869,000. Next Capital Management LLC increased its position in MidCap Financial Investment by 26.1% during the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock worth $21,037,000 after acquiring an additional 387,303 shares during the period. Y Intercept Hong Kong Ltd bought a new position in MidCap Financial Investment during the second quarter worth about $995,000. Cidel Asset Management Inc. acquired a new stake in MidCap Financial Investment in the 2nd quarter worth about $507,000. Finally, Headlands Technologies LLC raised its stake in MidCap Financial Investment by 304.1% in the 2nd quarter. Headlands Technologies LLC now owns 51,819 shares of the company’s stock worth $522,000 after purchasing an additional 38,995 shares in the last quarter. 28.45% of the stock is currently owned by institutional investors and hedge funds.

MidCap Financial Investment Company Profile

(Get Free Report)

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

MFIC primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and other investments issued by companies across a range of industries.

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