Congress Wealth Management LLC DE Sells 50,315 Shares of MidCap Financial Investment Co. (NASDAQ:MFIC)

Congress Wealth Management LLC DE cut its holdings in MidCap Financial Investment Co. (NASDAQ:MFIC) by 63.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,594 shares of the company’s stock after selling 50,315 shares during the quarter. Congress Wealth Management LLC DE’s holdings in MidCap Financial Investment were worth $386,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of MidCap Financial Investment by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company’s stock valued at $32,005,000 after purchasing an additional 102,406 shares in the last quarter. Advisors Asset Management Inc. raised its position in MidCap Financial Investment by 4.1% in the 4th quarter. Advisors Asset Management Inc. now owns 462,577 shares of the company’s stock worth $6,240,000 after buying an additional 18,046 shares during the last quarter. Foundations Investment Advisors LLC lifted its stake in MidCap Financial Investment by 28.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 400,034 shares of the company’s stock valued at $5,396,000 after acquiring an additional 88,468 shares during the period. Franklin Resources Inc. boosted its holdings in shares of MidCap Financial Investment by 32.4% during the 3rd quarter. Franklin Resources Inc. now owns 384,054 shares of the company’s stock valued at $5,116,000 after acquiring an additional 93,972 shares during the last quarter. Finally, Condor Capital Management grew its stake in shares of MidCap Financial Investment by 2.3% in the fourth quarter. Condor Capital Management now owns 368,185 shares of the company’s stock worth $4,967,000 after acquiring an additional 8,343 shares during the period. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MidCap Financial Investment Price Performance

Shares of MidCap Financial Investment stock opened at $13.04 on Friday. The stock’s fifty day moving average is $13.68 and its 200 day moving average is $13.59. MidCap Financial Investment Co. has a one year low of $12.26 and a one year 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. The stock has a market cap of $1.22 billion, a P/E ratio of 8.36 and a beta of 1.49.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $86.28 million. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. Sell-side analysts anticipate that MidCap Financial Investment Co. will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.66%. The ex-dividend date of this dividend was Tuesday, March 11th. MidCap Financial Investment’s dividend payout ratio (DPR) is currently 116.03%.

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.