Wells Fargo & Company Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $9.50

MidCap Financial Investment (NASDAQ:MFIC) had its price objective lowered by investment analysts at Wells Fargo & Company from $11.00 to $9.50 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 6.00% from the company’s previous close.

A number of other research firms also recently issued reports on MFIC. Weiss Ratings reiterated a “hold (c)” rating on shares of MidCap Financial Investment in a report on Thursday, January 22nd. Compass Point restated a “neutral” rating and set a $12.25 price objective (down from $14.75) on shares of MidCap Financial Investment in a research report on Monday, November 10th. JPMorgan Chase & Co. dropped their price objective on shares of MidCap Financial Investment from $12.00 to $11.50 and set a “neutral” rating for the company in a research note on Monday, November 10th. Zacks Research raised MidCap Financial Investment from a “strong sell” rating to a “hold” rating in a report on Thursday, December 11th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of MidCap Financial Investment from $14.00 to $13.00 and set a “market perform” rating for the company in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.54.

MidCap Financial Investment Trading Up 4.4%

Shares of NASDAQ:MFIC traded up $0.43 during mid-day trading on Monday, reaching $10.11. The stock had a trading volume of 678,163 shares, compared to its average volume of 795,303. The firm has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $11.87. The firm has a market cap of $942.89 million, a PE ratio of 15.36 and a beta of 0.78. MidCap Financial Investment has a twelve month low of $9.48 and a twelve month high of $13.93. The company has a current ratio of 6.65, a quick ratio of 6.65 and a debt-to-equity ratio of 1.53.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. MidCap Financial Investment had a net margin of 19.69% and a return on equity of 10.43%. The company had revenue of ($1.38) million during the quarter, compared to analyst estimates of $78.87 million. On average, research analysts predict that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

Institutional Trading of MidCap Financial Investment

Several large investors have recently modified their holdings of MFIC. Caxton Associates LLP bought a new position in MidCap Financial Investment during the 1st quarter valued at $166,000. Envestnet Asset Management Inc. raised its holdings in shares of MidCap Financial Investment by 9.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 48,838 shares of the company’s stock worth $616,000 after purchasing an additional 4,014 shares during the period. Sigma Planning Corp grew its stake in shares of MidCap Financial Investment by 3.1% during the 2nd quarter. Sigma Planning Corp now owns 73,046 shares of the company’s stock worth $922,000 after acquiring an additional 2,183 shares during the period. Access Investment Management LLC purchased a new position in shares of MidCap Financial Investment in the second quarter worth about $50,000. Finally, Next Capital Management LLC boosted its holdings in shares of MidCap Financial Investment by 329.0% in the second quarter. Next Capital Management LLC now owns 725,401 shares of the company’s stock worth $9,155,000 after acquiring an additional 556,316 shares during the period. Institutional investors and hedge funds own 28.45% of the company’s stock.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.