Recent changes in stock ownership for MidCap Financial Investment involve several institutional investors. Farther Finance Advisors increased their stake by 4.6% to own 23,362 shares, valued at $354,000. International Assets grew its holdings by 5.0%, reaching 21,951 shares worth $327,000. Janney Montgomery Scott upped theirs by 5.3% to 20,748 shares ($312,000). Sumitomo Mitsui Trust grew its stake by 0.6% to 182,130 shares ($2.74 million). Virtu Financial boosted its holdings by 11.8% to 13,559 shares worth $204,000. Overall, institutional investors own 28.45% of the company.
Analyst Opinions
Analysts recently updated their ratings on MFIC. Keefe, Bruyette & Woods upgraded it from “market perform” to “outperform” with a $15 price target. JPMorgan Chase lowered its target from $15 to $14, maintaining a “neutral” rating. Wells Fargo adjusted its price target from $16 to $15 with an “overweight” rating. Compass Point lifted its rating from “neutral” to “buy”, setting a target price of $16. The consensus rating is “Moderate Buy” with an average target of $15.
Stock Performance
MFIC opened at $13.39, with a market cap of $873.74 million and a P/E ratio of 7.65. Its 52-week range is $12.26 to $16.36. Recently, the company reported quarterly earnings of $0.45 per share, exceeding estimates of $0.43, and revenue of $69.16 million. Analysts expect an EPS of 1.72 for the current fiscal year.
Dividend Announcement
MidCap Financial declared a quarterly dividend of $0.38 per share, increasing from the previous $0.20. This gives an annual yield of 11.35%. The payout ratio is 86.86%.
Company Overview
MidCap Financial Investment Corporation (previously Apollo Investment Corporation) is a business development company specializing in private equity investments in areas like leveraged buyouts and growth capital.
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