B. Riley Wealth Advisors Inc. lessened its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC – Free Report) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,778 shares of the company’s stock after selling 1,078 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in MidCap Financial Investment were worth $186,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MFIC. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of MidCap Financial Investment during the 1st quarter worth approximately $226,000. Register Financial Advisors LLC bought a new stake in shares of MidCap Financial Investment during the 1st quarter worth approximately $82,000. Ethos Financial Group LLC bought a new stake in shares of MidCap Financial Investment during the 1st quarter worth approximately $260,000. Camelot Portfolios LLC bought a new stake in shares of MidCap Financial Investment during the 1st quarter worth approximately $1,491,000. Finally, Meridian Investment Counsel Inc. bought a new stake in shares of MidCap Financial Investment during the 1st quarter worth approximately $928,000. Institutional investors and hedge funds own 27.96% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on MFIC. Royal Bank of Canada upped their price target on shares of MidCap Financial Investment from $13.00 to $14.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $14.75 price objective for the company in a research note on Monday, August 7th.
MidCap Financial Investment Price Performance
Shares of NASDAQ:MFIC opened at $12.82 on Wednesday. The company has a market cap of $836.51 million, a price-to-earnings ratio of 11.45 and a beta of 1.55. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a 50 day simple moving average of $13.36 and a 200 day simple moving average of $12.64. MidCap Financial Investment Co. has a one year low of $10.39 and a one year high of $14.03.
MidCap Financial Investment (NASDAQ:MFIC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $68.62 million during the quarter, compared to the consensus estimate of $67.66 million. MidCap Financial Investment had a net margin of 28.16% and a return on equity of 10.94%. Research analysts predict that MidCap Financial Investment Co. will post 1.78 earnings per share for the current fiscal year.
MidCap Financial Investment Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Tuesday, September 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.86%. The ex-dividend date of this dividend was Monday, September 11th. MidCap Financial Investment’s payout ratio is currently 135.71%.
MidCap Financial Investment Profile
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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