Westchester Capital Management LLC Makes New $103,000 Investment in MidCap Financial Investment Co. (NASDAQ:MFIC)

Westchester Capital Management LLC purchased a new position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,702 shares of the company’s stock, valued at approximately $103,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MFIC. Virtu Financial LLC increased its holdings in shares of MidCap Financial Investment by 11.8% during the 1st quarter. Virtu Financial LLC now owns 13,559 shares of the company’s stock worth $204,000 after acquiring an additional 1,429 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of MidCap Financial Investment in the first quarter valued at about $161,000. DNB Asset Management AS lifted its stake in shares of MidCap Financial Investment by 19.3% during the 2nd quarter. DNB Asset Management AS now owns 169,451 shares of the company’s stock worth $2,565,000 after buying an additional 27,403 shares during the last quarter. Accel Wealth Management bought a new position in MidCap Financial Investment in the 2nd quarter valued at about $151,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in MidCap Financial Investment during the second quarter worth approximately $578,000. Institutional investors own 28.45% of the company’s stock.

MidCap Financial Investment Price Performance

MFIC stock opened at $14.17 on Friday. The company’s 50-day moving average price is $13.52 and its two-hundred day moving average price is $14.27. MidCap Financial Investment Co. has a 12 month low of $12.26 and a 12 month high of $16.36. 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 $1.33 billion, a P/E ratio of 9.08 and a beta of 1.50.

MidCap Financial Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 10.73%. The ex-dividend date of this dividend is Tuesday, December 10th. MidCap Financial Investment’s payout ratio is presently 97.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $14.00 target price on shares of MidCap Financial Investment in a research report on Tuesday, November 19th. Wells Fargo & Company lowered their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.71.

MidCap Financial Investment 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.