Van ECK Associates Corp Purchases 114,587 Shares of MidCap Financial Investment Co. (NASDAQ:MFIC)

Van ECK Associates Corp boosted its position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 10.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,196,306 shares of the company’s stock after purchasing an additional 114,587 shares during the quarter. Van ECK Associates Corp’s holdings in MidCap Financial Investment were worth $16,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its stake in shares of MidCap Financial Investment by 63.3% during the third quarter. Parkside Financial Bank & Trust now owns 6,021 shares of the company’s stock worth $83,000 after buying an additional 2,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in MidCap Financial Investment in the third quarter valued at approximately $179,000. Cambridge Investment Research Advisors Inc. grew its holdings in MidCap Financial Investment by 6.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company’s stock worth $192,000 after acquiring an additional 883 shares during the period. Janney Montgomery Scott LLC raised its position in shares of MidCap Financial Investment by 10.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,683 shares of the company’s stock valued at $284,000 after acquiring an additional 1,882 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in shares of MidCap Financial Investment in the 4th quarter valued at $286,000. 28.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on MFIC shares. JPMorgan Chase & Co. lifted their price objective on MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Wells Fargo & Company raised their target price on MidCap Financial Investment from $13.00 to $14.50 and gave the stock an “overweight” rating in a report on Monday, January 29th. Truist Financial upped their price target on MidCap Financial Investment from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Royal Bank of Canada lifted their price objective on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 28th. Finally, Citigroup boosted their price objective on shares of MidCap Financial Investment from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.79.

MidCap Financial Investment Trading Up 0.6 %

NASDAQ:MFIC opened at $15.29 on Thursday. The business’s 50-day simple moving average is $14.81 and its 200-day simple moving average is $13.99. MidCap Financial Investment Co. has a fifty-two week low of $10.78 and a fifty-two week high of $15.38. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.43 and a quick ratio of 4.43. The stock has a market capitalization of $997.67 million, a PE ratio of 8.40 and a beta of 1.47.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. MidCap Financial Investment had a net margin of 42.95% and a return on equity of 15.50%. The firm had revenue of $71.95 million for the quarter, compared to analyst estimates of $68.44 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts expect that MidCap Financial Investment Co. will post 1.72 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.94%. The ex-dividend date of this dividend was Monday, March 11th. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 83.52%.

About MidCap Financial Investment

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.