MidCap Financial Investment Co. (NASDAQ:MFIC) Sees Significant Increase in Short Interest

MidCap Financial Investment Co. (NASDAQ:MFIC) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 544,100 shares, an increase of 17.3% from the August 31st total of 464,000 shares. Based on an average daily volume of 462,600 shares, the days-to-cover ratio is presently 1.2 days.

MidCap Financial Investment Price Performance

NASDAQ MFIC traded up $0.02 on Monday, reaching $13.42. The company’s stock had a trading volume of 34,913 shares, compared to its average volume of 316,766. MidCap Financial Investment has a 52 week low of $12.26 and a 52 week high of $16.36. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.51. The firm has a market cap of $875.70 million, a PE ratio of 7.66 and a beta of 1.50. The business has a 50-day moving average price of $13.76 and a 200 day moving average price of $14.73.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The company had revenue of $69.16 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $0.44 EPS. Sell-side analysts expect that MidCap Financial Investment will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.38 per share. The ex-dividend date was Tuesday, September 10th. This is a boost 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 11.33%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 86.86%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On MidCap Financial Investment

Large investors have recently made changes to their positions in the company. Security National Bank acquired a new position in MidCap Financial Investment in the fourth quarter valued at about $76,000. Tucker Asset Management LLC acquired a new position in shares of MidCap Financial Investment in the 4th quarter worth approximately $81,000. Brown Brothers Harriman & Co. bought a new stake in MidCap Financial Investment during the 2nd quarter worth approximately $81,000. Register Financial Advisors LLC bought a new stake in MidCap Financial Investment during the 1st quarter worth approximately $114,000. Finally, Accel Wealth Management acquired a new stake in MidCap Financial Investment during the 2nd quarter valued at $151,000. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Company Profile

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.