Connor Clark & Lunn Investment Management Ltd. Takes $1.29 Million Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

Connor Clark & Lunn Investment Management Ltd. bought a new position in MidCap Financial Investment Co. (NASDAQ:MFIC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 95,520 shares of the company’s stock, valued at approximately $1,289,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of MidCap Financial Investment at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MFIC. Nomura Asset Management Co. Ltd. lifted its position in shares of MidCap Financial Investment by 71.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company’s stock valued at $26,000 after acquiring an additional 809 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of MidCap Financial Investment in the 3rd quarter valued at $35,000. Allworth Financial LP raised its holdings in MidCap Financial Investment by 197.8% during the 4th quarter. Allworth Financial LP now owns 2,558 shares of the company’s stock worth $35,000 after buying an additional 1,699 shares during the period. Westchester Capital Management LLC purchased a new stake in MidCap Financial Investment during the third quarter valued at about $103,000. Finally, Entropy Technologies LP purchased a new position in shares of MidCap Financial Investment in the fourth quarter worth approximately $155,000. 28.45% of the stock is owned by institutional investors and hedge funds.

MidCap Financial Investment Stock Down 0.5 %

MidCap Financial Investment stock opened at $12.90 on Thursday. The firm’s 50 day moving average price is $13.71 and its two-hundred day moving average price is $13.63. The firm has a market cap of $1.21 billion, a PE ratio of 8.27 and a beta of 1.49. MidCap Financial Investment Co. has a twelve month low of $12.26 and a twelve month high of $16.37. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.16 million during the quarter, compared to analyst estimates of $86.28 million. On average, research analysts predict that MidCap Financial Investment Co. will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 11th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.78%. The ex-dividend date of this dividend is Tuesday, March 11th. MidCap Financial Investment’s payout ratio is presently 116.03%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, MidCap Financial Investment presently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

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.