MidCap Financial Investment’s (MFIC) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of MidCap Financial Investment (NASDAQ:MFIC) in a research note published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $14.00 price objective on the stock.

Several other brokerages have also weighed in on MFIC. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company reduced 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. Keefe, Bruyette & Woods raised 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 note on Monday, August 5th. Finally, Compass Point raised shares of MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.71.

MidCap Financial Investment Stock Performance

Shares of NASDAQ MFIC opened at $13.82 on Tuesday. MidCap Financial Investment has a 1 year low of $12.26 and a 1 year high of $16.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The company’s fifty day moving average price is $13.47 and its 200 day moving average price is $14.33. The company has a market capitalization of $1.30 billion, a PE ratio of 8.86 and a beta of 1.50.

MidCap Financial Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.52 annualized dividend and a yield of 11.00%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 97.44%.

Institutional Investors Weigh In On MidCap Financial Investment

Large investors have recently modified their holdings of the business. Anchor Investment Management LLC acquired a new position in MidCap Financial Investment during the third quarter worth about $35,000. Barclays PLC lifted its stake in MidCap Financial Investment by 190,106.2% in the 3rd quarter. Barclays PLC now owns 123,634 shares of the company’s stock worth $1,656,000 after purchasing an additional 123,569 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of MidCap Financial Investment by 71.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock valued at $26,000 after purchasing an additional 809 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of MidCap Financial Investment in the third quarter valued at approximately $469,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in MidCap Financial Investment during the third quarter worth approximately $692,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

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.