AlphaCore Capital LLC Reduces Stake in MidCap Financial Investment Corporation $MFIC

AlphaCore Capital LLC lowered its position in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 37.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,529 shares of the company’s stock after selling 6,763 shares during the quarter. AlphaCore Capital LLC’s holdings in MidCap Financial Investment were worth $145,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC purchased a new position in shares of MidCap Financial Investment during the 2nd quarter valued at $189,382,000. Next Capital Management LLC boosted its stake in MidCap Financial Investment by 329.0% during the second quarter. Next Capital Management LLC now owns 725,401 shares of the company’s stock valued at $9,155,000 after buying an additional 556,316 shares during the period. Cura Wealth Advisors LLC boosted its stake in MidCap Financial Investment by 354.2% during the first quarter. Cura Wealth Advisors LLC now owns 648,600 shares of the company’s stock valued at $8,341,000 after buying an additional 505,807 shares during the period. Ethos Financial Group LLC grew its position in MidCap Financial Investment by 2,074.6% during the first quarter. Ethos Financial Group LLC now owns 415,948 shares of the company’s stock worth $5,361,000 after buying an additional 396,820 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in MidCap Financial Investment in the 1st quarter worth about $2,958,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Trading Up 1.1%

NASDAQ MFIC opened at $12.01 on Wednesday. The company has a quick ratio of 4.34, a current ratio of 4.34 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average is $11.94 and its 200 day moving average is $12.50. The firm has a market capitalization of $1.12 billion, a PE ratio of 11.33 and a beta of 1.00. MidCap Financial Investment Corporation has a twelve month low of $10.18 and a twelve month high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $82.58 million for the quarter, compared to analyst estimates of $83.56 million. MidCap Financial Investment had a net margin of 30.79% and a return on equity of 10.33%. Research analysts forecast that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Tuesday, December 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 12.7%. MidCap Financial Investment’s dividend payout ratio is presently 143.40%.

Analysts Set New Price Targets

A number of research firms have commented on MFIC. Weiss Ratings reissued a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Wednesday, October 8th. Zacks Research cut MidCap Financial Investment from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. decreased their price objective on MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating on the stock in a report on Monday, November 10th. Compass Point restated a “neutral” rating and issued a $12.25 target price (down previously from $14.75) on shares of MidCap Financial Investment in a research report on Monday, November 10th. Finally, Raymond James Financial set a $13.50 target price on MidCap Financial Investment and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $13.04.

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.