Short Interest in MidCap Financial Investment Co. (NASDAQ:MFIC) Drops By 19.8%

MidCap Financial Investment Co. (NASDAQ:MFIC) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 436,100 shares, a decline of 19.8% from the September 15th total of 544,100 shares. Based on an average trading volume of 501,900 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On MidCap Financial Investment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of MidCap Financial Investment by 17.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock worth $22,932,000 after purchasing an additional 226,313 shares during the period. Condor Capital Management grew its position in 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 buying an additional 42,939 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in 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 buying an additional 42,723 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of MidCap Financial Investment during the 2nd quarter valued at approximately $578,000. Finally, MQS Management LLC purchased a new stake in shares of MidCap Financial Investment during the 2nd quarter worth approximately $575,000. Institutional investors and hedge funds own 28.45% of the company’s stock.

MidCap Financial Investment Price Performance

MidCap Financial Investment stock opened at $13.41 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02. The business has a 50 day simple moving average of $13.54 and a 200-day simple moving average of $14.64. MidCap Financial Investment has a 12 month low of $12.26 and a 12 month high of $16.36. The stock has a market capitalization of $875.04 million, a PE ratio of 7.66 and a beta of 1.50.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company 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 quarter in the prior year, the firm earned $0.44 EPS. Equities analysts predict that MidCap Financial Investment will post 1.72 earnings per share for the current year.

MidCap Financial Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.33%. 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 payout ratio is currently 86.86%.

Analyst Ratings Changes

A number of analysts recently issued reports on MFIC shares. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Monday, August 5th. Wells Fargo & Company decreased their price objective on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Finally, Compass Point upgraded shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company 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’s stock. According to data from MarketBeat.com, MidCap Financial Investment has an average rating of “Moderate Buy” and an average target price of $15.00.

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.