MidCap Financial Investment Corporation (NASDAQ:MFIC – Get Free Report)’s stock price reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $9.28 and last traded at $9.4540, with a volume of 123377 shares changing hands. The stock had previously closed at $9.48.
The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.58). MidCap Financial Investment had a net margin of 1.90% and a return on equity of 10.86%. The company had revenue of ($9.12) million for the quarter, compared to analysts’ expectations of $67.80 million.
Analysts Set New Price Targets
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of MidCap Financial Investment from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Wall Street Zen raised shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings cut shares of MidCap Financial Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.46.
Hedge Funds Weigh In On MidCap Financial Investment
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in MidCap Financial Investment by 730,509.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,113,333 shares of the company’s stock worth $47,057,000 after buying an additional 4,112,770 shares in the last quarter. Rivernorth Capital Management LLC purchased a new stake in MidCap Financial Investment in the 4th quarter worth approximately $4,741,000. North Ground Capital lifted its holdings in MidCap Financial Investment by 160.5% during the fourth quarter. North Ground Capital now owns 651,326 shares of the company’s stock valued at $7,451,000 after purchasing an additional 401,326 shares in the last quarter. Next Capital Management LLC boosted its position in shares of MidCap Financial Investment by 26.1% in the first quarter. Next Capital Management LLC now owns 1,871,652 shares of the company’s stock worth $21,037,000 after purchasing an additional 387,303 shares during the period. Finally, UBS Group AG boosted its position in shares of MidCap Financial Investment by 19.0% in the fourth quarter. UBS Group AG now owns 2,024,312 shares of the company’s stock worth $23,158,000 after purchasing an additional 323,137 shares during the period. 28.45% of the stock is currently owned by hedge funds and other institutional investors.
MidCap Financial Investment Stock Down 0.6%
The company has a debt-to-equity ratio of 1.59, a quick ratio of 4.42 and a current ratio of 4.42. The company’s 50-day moving average price is $9.99 and its 200 day moving average price is $10.73. The stock has a market capitalization of $776.01 million, a P/E ratio of 235.68 and a beta of 0.61.
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.
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