MidCap Financial Investment Co. (NASDAQ:MFIC) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 320,415 shares of the company’s stock after acquiring an additional 60,759 shares during the period. Ameriprise Financial Inc. owned approximately 0.34% of MidCap Financial Investment worth $4,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MFIC. Naviter Wealth LLC purchased a new stake in MidCap Financial Investment during the fourth quarter valued at about $2,516,000. Ares Management LLC grew its position in MidCap Financial Investment by 55.5% during the fourth quarter. Ares Management LLC now owns 482,032 shares of the company’s stock valued at $6,503,000 after acquiring an additional 172,032 shares during the period. Callodine Capital Management LP grew its position in MidCap Financial Investment by 164.4% during the fourth quarter. Callodine Capital Management LP now owns 246,217 shares of the company’s stock valued at $3,321,000 after acquiring an additional 153,105 shares during the period. Legal & General Group Plc grew its position in MidCap Financial Investment by 30.6% during the fourth quarter. Legal & General Group Plc now owns 620,824 shares of the company’s stock valued at $8,372,000 after acquiring an additional 145,402 shares during the period. Finally, Van ECK Associates Corp grew its position in MidCap Financial Investment by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company’s stock valued at $32,005,000 after acquiring an additional 102,406 shares during the period. Hedge funds and other institutional investors own 28.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their target price on MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Truist Financial decreased their target price on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company decreased their target price on MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, MidCap Financial Investment has a consensus rating of “Moderate Buy” and an average target price of $14.00.

MidCap Financial Investment Price Performance

Shares of NASDAQ MFIC opened at $12.73 on Monday. MidCap Financial Investment Co. has a 1-year low of $10.18 and a 1-year high of $16.37. The business has a 50-day moving average of $12.16 and a 200-day moving average of $13.17. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 8.16 and a beta of 1.00.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $82.49 million. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. On average, equities analysts anticipate that MidCap Financial Investment Co. will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.94%. The ex-dividend date is Tuesday, June 10th. MidCap Financial Investment’s dividend payout ratio is currently 122.58%.

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.