Cambridge Investment Research Advisors Inc. Acquires 1,578 Shares of MidCap Financial Investment Corporation (NASDAQ:MFIC)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,667 shares of the company’s stock after acquiring an additional 1,578 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in MidCap Financial Investment were worth $266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. grew its position in MidCap Financial Investment by 23.4% during the fourth quarter. Ameriprise Financial Inc. now owns 320,415 shares of the company’s stock valued at $4,322,000 after acquiring an additional 60,759 shares during the last quarter. Jane Street Group LLC grew its position in MidCap Financial Investment by 64.2% during the fourth quarter. Jane Street Group LLC now owns 57,520 shares of the company’s stock valued at $776,000 after acquiring an additional 22,487 shares during the last quarter. Envestnet Asset Management Inc. grew its position in MidCap Financial Investment by 270.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 111,956 shares of the company’s stock valued at $1,510,000 after acquiring an additional 81,695 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of MidCap Financial Investment by 30.6% in the fourth quarter. Legal & General Group Plc now owns 620,824 shares of the company’s stock worth $8,372,000 after purchasing an additional 145,402 shares during the last quarter. Finally, Ares Management LLC grew its holdings in shares of MidCap Financial Investment by 55.5% in the fourth quarter. Ares Management LLC now owns 482,032 shares of the company’s stock worth $6,503,000 after purchasing an additional 172,032 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors.

MidCap Financial Investment Stock Performance

Shares of MFIC stock opened at $13.16 on Friday. The stock has a fifty day moving average of $12.62 and a 200 day moving average of $12.91. MidCap Financial Investment Corporation has a 52 week low of $10.18 and a 52 week high of $15.67. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.61 and a beta of 0.97. The company has a quick ratio of 5.98, a current ratio of 5.98 and a debt-to-equity ratio of 1.39.

MidCap Financial Investment (NASDAQ:MFIC) last announced 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 return on equity of 10.66% and a net margin of 33.21%. As a group, research analysts expect that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.55%. The ex-dividend date of this dividend was Tuesday, June 10th. MidCap Financial Investment’s dividend payout ratio is currently 122.58%.

Analyst Upgrades and Downgrades

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

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.