J.W. Cole Advisors Inc. purchased a new stake in MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 46,881 shares of the company's stock, valued at approximately $628,000. J.W. Cole Advisors Inc. owned about 0.07% of MidCap Financial Investment at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of MidCap Financial Investment during the second quarter valued at approximately $81,000. Accel Wealth Management bought a new position in MidCap Financial Investment during the second quarter valued at about $151,000. HB Wealth Management LLC purchased a new stake in MidCap Financial Investment during the second quarter worth about $153,000. Essex Financial Services Inc. bought a new stake in MidCap Financial Investment in the second quarter worth about $154,000. Finally, ProShare Advisors LLC purchased a new position in MidCap Financial Investment in the second quarter valued at approximately $159,000. 28.45% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on MFIC shares. Compass Point upgraded MidCap Financial Investment from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised shares of MidCap Financial Investment from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a report on Monday, August 5th. Finally, Wells Fargo & Company lowered their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, MidCap Financial Investment currently has an average rating of "Moderate Buy" and an average target price of $14.86.
Read Our Latest Report on MidCap Financial Investment
MidCap Financial Investment Price Performance
NASDAQ MFIC traded down $0.05 on Thursday, hitting $13.37. The stock had a trading volume of 208,658 shares, compared to its average volume of 320,267. The firm has a 50-day moving average of $13.54 and a 200-day moving average of $14.50. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.85 and a beta of 1.50. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.02 and a current ratio of 3.02. MidCap Financial Investment Co. has a 52-week low of $12.26 and a 52-week high of $16.36.
MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.02. The business had revenue of $69.16 million for the quarter, compared to the consensus estimate of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts expect that MidCap Financial Investment Co. will post 1.72 EPS for the current year.
MidCap Financial Investment Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.52 annualized dividend and a yield of 11.37%. This is a positive change from MidCap Financial Investment's previous quarterly dividend of $0.20. MidCap Financial Investment's dividend payout ratio is currently 88.89%.
About MidCap Financial Investment
(
Free Report)
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.
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