Mercer Global Advisors Inc. ADV Acquires Shares of 10,706 MidCap Financial Investment Co. (NASDAQ:MFIC)

Mercer Global Advisors Inc. ADV acquired a new position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,706 shares of the company’s stock, valued at approximately $162,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp increased its holdings in MidCap Financial Investment by 17.6% in the 2nd 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 in the last quarter. Condor Capital Management lifted its position in shares of 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 purchasing an additional 42,939 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of MidCap Financial Investment by 19.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock valued at $3,984,000 after purchasing an additional 42,723 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in MidCap Financial Investment in the 2nd quarter valued at about $578,000. Finally, SG Americas Securities LLC bought a new stake in MidCap Financial Investment in the first quarter valued at about $532,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Price Performance

Shares of MFIC stock opened at $13.24 on Wednesday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.51. MidCap Financial Investment Co. has a 12 month low of $12.26 and a 12 month high of $16.36. The firm has a market cap of $863.95 million, a price-to-earnings ratio of 7.57 and a beta of 1.50. The stock has a 50-day moving average price of $13.67 and a 200 day moving average price of $14.71.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share 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 the consensus estimate of $68.02 million. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. During the same period in the previous year, the firm posted $0.44 earnings per share. Research analysts expect that MidCap Financial Investment Co. will post 1.72 EPS for the current year.

MidCap Financial Investment Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 10th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.48%. The ex-dividend date was Tuesday, September 10th. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. MidCap Financial Investment’s dividend payout ratio is presently 86.86%.

Analyst Ratings Changes

MFIC has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company cut their target price 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, 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 research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, MidCap Financial Investment currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

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.