Royal Bank Of Canada Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $11.00

MidCap Financial Investment (NASDAQ:MFIC) had its target price cut by Royal Bank Of Canada from $13.00 to $11.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

MFIC has been the topic of a number of other research reports. Truist Financial decreased their target price on shares of MidCap Financial Investment from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, November 10th. Zacks Research raised MidCap Financial Investment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Wells Fargo & Company reduced their price objective on MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating on the stock in a research report on Monday, March 2nd. Finally, Wall Street Zen raised MidCap Financial Investment from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.96.

MidCap Financial Investment Stock Down 1.4%

MFIC stock opened at $10.40 on Thursday. The firm has a 50-day moving average price of $11.17 and a 200-day moving average price of $11.79. MidCap Financial Investment has a 12 month low of $9.48 and a 12 month high of $13.51. The company has a current ratio of 6.65, a quick ratio of 6.65 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $958.98 million, a P/E ratio of 15.76 and a beta of 0.78.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of ($1.38) million for the quarter, compared to analyst estimates of $78.87 million. MidCap Financial Investment had a net margin of 19.69% and a return on equity of 10.43%. As a group, equities research analysts anticipate that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Tuesday, March 10th. MidCap Financial Investment’s dividend payout ratio is currently 230.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in shares of MidCap Financial Investment by 167.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,989 shares of the company’s stock valued at $35,000 after purchasing an additional 1,871 shares during the last quarter. Advocate Investing Services LLC bought a new position in MidCap Financial Investment during the fourth quarter worth $36,000. Physician Wealth Advisors Inc. acquired a new position in MidCap Financial Investment in the third quarter valued at $42,000. Financial Consulate Inc. acquired a new position in MidCap Financial Investment in the third quarter valued at $46,000. Finally, State of Alaska Department of Revenue bought a new stake in MidCap Financial Investment during the third quarter valued at $46,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.