MidCap Financial Investment (NASDAQ:MFIC) Sets New 12-Month Low - Here's Why

MidCap Financial Investment Co. (NASDAQ:MFIC - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $10.18 and last traded at $11.70, with a volume of 1227574 shares changing hands. The stock had previously closed at $10.47.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MFIC shares. Wells Fargo & Company dropped their price target on MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Keefe, Bruyette & Woods reduced 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 research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and three have issued 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 $14.50.

MidCap Financial Investment Price Performance

The stock has a market cap of $1.08 billion, a P/E ratio of 7.38 and a beta of 1.13. The company has a 50 day simple moving average of $13.10 and a 200 day simple moving average of $13.42. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.16 million for the quarter, compared to analyst estimates of $86.28 million. Sell-side analysts forecast that MidCap Financial Investment Co. will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th were issued a $0.38 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.52 annualized dividend and a yield of 13.23%. MidCap Financial Investment's dividend payout ratio is currently 116.03%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its position in shares of MidCap Financial Investment by 71.8% during 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. Allworth Financial LP increased its holdings in MidCap Financial Investment by 197.8% in the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company's stock valued at $35,000 after buying an additional 1,699 shares during the period. Anchor Investment Management LLC bought a new stake in shares of MidCap Financial Investment during the 3rd quarter worth approximately $35,000. Entropy Technologies LP bought a new position in MidCap Financial Investment in the fourth quarter valued at approximately $155,000. Finally, Kingstone Capital Partners Texas LLC bought a new stake in MidCap Financial Investment during the fourth quarter worth $156,000. Institutional investors own 28.45% of the company's stock.

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.