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

MidCap Financial Investment Co. (NASDAQ:MFIC) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 436,100 shares, a decline of 19.8% from the September 15th total of 544,100 shares. Based on an average daily volume of 501,900 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MFIC shares. Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, July 25th. Finally, Wells Fargo & Company reduced their price objective on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, MidCap Financial Investment currently has an average rating of “Moderate Buy” and an average price target of $15.00.

MidCap Financial Investment Stock Performance

MFIC stock remained flat at $13.32 during trading on Tuesday. The company’s stock had a trading volume of 334,953 shares, compared to its average volume of 321,859. The company has a market capitalization of $869.17 million, a price-to-earnings ratio of 7.61 and a beta of 1.50. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.02 and a current ratio of 3.02. The firm’s 50 day moving average is $13.55 and its 200 day moving average is $14.63. MidCap Financial Investment has a 52 week low of $12.26 and a 52 week high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same quarter in the prior year, the business posted $0.44 earnings per share. On average, research analysts anticipate that MidCap Financial Investment will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.41%. This is a boost from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, September 10th. MidCap Financial Investment’s dividend payout ratio is 86.86%.

Institutional Investors Weigh In On MidCap Financial Investment

Large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in MidCap Financial Investment by 17.6% during the second quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock valued at $22,932,000 after purchasing an additional 226,313 shares during the period. Commonwealth Equity Services LLC lifted its position in MidCap Financial Investment by 1.0% in the first quarter. Commonwealth Equity Services LLC now owns 337,880 shares of the company’s stock worth $5,082,000 after buying an additional 3,215 shares during the last quarter. Condor Capital Management boosted its stake 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 period. Hennion & Walsh Asset Management Inc. increased its position in MidCap Financial Investment by 19.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock valued at $3,984,000 after acquiring an additional 42,723 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of MidCap Financial Investment by 9.9% in the second quarter. D.A. Davidson & CO. now owns 250,155 shares of the company’s stock valued at $3,787,000 after acquiring an additional 22,623 shares during the period. Institutional investors 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.