Wells Fargo & Company Forecasts Strong Price Appreciation for MidCap Financial Investment (NASDAQ:MFIC) Stock

MidCap Financial Investment (NASDAQ:MFIC) had its target price upped by Wells Fargo & Company from $14.00 to $15.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $14.00 target price on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, MidCap Financial Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.86.

MidCap Financial Investment Stock Performance

MFIC stock opened at $14.00 on Wednesday. The company has a quick ratio of 8.51, a current ratio of 8.51 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.31 billion, a PE ratio of 8.97 and a beta of 1.48. The business has a 50 day moving average of $13.67 and a 200-day moving average of $13.70. MidCap Financial Investment has a 12-month low of $12.26 and a 12-month high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Thursday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $82.14 million during the quarter, compared to analyst estimates of $82.68 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. During the same period last year, the firm posted $0.43 EPS. As a group, sell-side analysts expect that MidCap Financial Investment will post 1.73 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Tuesday, December 10th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 10.86%. The ex-dividend date of this dividend was Tuesday, December 10th. MidCap Financial Investment’s payout ratio is currently 97.44%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its position in shares of MidCap Financial Investment by 71.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock worth $26,000 after acquiring an additional 809 shares in the last quarter. Anchor Investment Management LLC bought a new stake in shares of MidCap Financial Investment during the 3rd quarter valued at $35,000. Allworth Financial LP lifted its holdings in MidCap Financial Investment by 197.8% during the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock worth $35,000 after purchasing an additional 1,699 shares in the last quarter. Westchester Capital Management LLC bought a new position in MidCap Financial Investment in the 3rd quarter worth about $103,000. Finally, Entropy Technologies LP purchased a new position in MidCap Financial Investment during the 4th quarter valued at about $155,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

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.