MidCap Financial Investment Co. (NASDAQ:MFIC) Short Interest Up 17.3% in September

MidCap Financial Investment Co. (NASDAQ:MFIC) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 544,100 shares, an increase of 17.3% from the August 31st total of 464,000 shares. Based on an average daily volume of 462,600 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of MidCap Financial Investment

A number of large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in shares of MidCap Financial Investment by 17.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock valued at $22,932,000 after acquiring an additional 226,313 shares during the last quarter. Commonwealth Equity Services LLC grew its position in MidCap Financial Investment by 1.0% during the first quarter. Commonwealth Equity Services LLC now owns 337,880 shares of the company’s stock worth $5,082,000 after buying an additional 3,215 shares in the last quarter. Condor Capital Management raised 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 valued at $4,633,000 after purchasing an additional 42,939 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in MidCap Financial Investment by 19.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock worth $3,984,000 after purchasing an additional 42,723 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in MidCap Financial Investment by 9.9% in the second quarter. D.A. Davidson & CO. now owns 250,155 shares of the company’s stock valued at $3,787,000 after purchasing an additional 22,623 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, July 25th. Keefe, Bruyette & Woods upgraded shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MidCap Financial Investment has an average rating of “Moderate Buy” and a consensus target price of $15.00.

MidCap Financial Investment Stock Performance

Shares of MidCap Financial Investment stock traded up $0.02 on Monday, reaching $13.42. 253,680 shares of the stock were exchanged, compared to its average volume of 317,929. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average price of $13.76 and a two-hundred day moving average price of $14.73. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The firm has a market capitalization of $875.70 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 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.02. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $68.02 million. During the same period last year, the business earned $0.44 EPS. As a group, research analysts anticipate that MidCap Financial Investment will post 1.72 earnings per share for the current fiscal year.

MidCap Financial Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were issued a $0.38 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.52 dividend on an annualized basis and a yield of 11.33%. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. MidCap Financial Investment’s dividend payout ratio (DPR) is 86.86%.

MidCap Financial Investment Company 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.