MidCap Financial Investment Co. (NASDAQ:MFIC) Short Interest Down 21.1% in October

MidCap Financial Investment Co. (NASDAQ:MFIC) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 321,800 shares, a drop of 21.1% from the October 15th total of 407,700 shares. Based on an average daily volume of 399,000 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On MidCap Financial Investment

A number of institutional investors have recently added to or reduced their stakes in MFIC. Nomura Asset Management Co. Ltd. increased its position in MidCap Financial Investment by 71.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock valued at $26,000 after acquiring an additional 809 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in MidCap Financial Investment during the second quarter worth approximately $81,000. Westchester Capital Management LLC bought a new stake in MidCap Financial Investment in the third quarter worth approximately $103,000. Accel Wealth Management acquired a new position in MidCap Financial Investment in the second quarter valued at approximately $151,000. Finally, HB Wealth Management LLC acquired a new position in shares of MidCap Financial Investment during the 2nd quarter valued at $153,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on MFIC shares. JPMorgan Chase & Co. dropped their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Monday, August 5th. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.86.

MidCap Financial Investment Price Performance

Shares of MFIC stock traded up $0.14 during trading hours on Friday, reaching $13.75. The company’s stock had a trading volume of 301,096 shares, compared to its average volume of 360,611. The company has a quick ratio of 3.02, a current ratio of 8.51 and a debt-to-equity ratio of 1.25. MidCap Financial Investment has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 8.81 and a beta of 1.50. The firm’s 50 day simple moving average is $13.46 and its 200-day simple moving average is $14.36.

MidCap Financial Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, December 10th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.05%. MidCap Financial Investment’s payout ratio is currently 97.44%.

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.