Franklin Resources Inc. Raises Stock Holdings in MidCap Financial Investment Co. (NASDAQ:MFIC)

Franklin Resources Inc. boosted its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 32.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 384,054 shares of the company’s stock after acquiring an additional 93,972 shares during the quarter. Franklin Resources Inc.’s holdings in MidCap Financial Investment were worth $5,116,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. HB Wealth Management LLC purchased a new stake in shares of MidCap Financial Investment during the second quarter valued at $153,000. Van ECK Associates Corp grew its stake in MidCap Financial Investment by 17.6% in the 2nd quarter. Van ECK Associates Corp now owns 1,514,663 shares of the company’s stock worth $22,932,000 after acquiring an additional 226,313 shares in the last quarter. Graypoint LLC increased its position in shares of MidCap Financial Investment by 2.5% during the second quarter. Graypoint LLC now owns 164,185 shares of the company’s stock worth $2,486,000 after acquiring an additional 4,012 shares during the period. Farther Finance Advisors LLC increased its position in shares of MidCap Financial Investment by 4.6% during the second quarter. Farther Finance Advisors LLC now owns 23,362 shares of the company’s stock worth $354,000 after acquiring an additional 1,025 shares during the period. Finally, Essex Financial Services Inc. bought a new stake in shares of MidCap Financial Investment during the second quarter valued at approximately $154,000. Institutional investors own 28.45% of the company’s stock.

Analyst Ratings Changes

MFIC has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Royal Bank of Canada restated a “sector perform” rating and set a $14.00 price target on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.71.

MidCap Financial Investment Stock Down 0.1 %

Shares of NASDAQ MFIC opened at $13.40 on Tuesday. MidCap Financial Investment Co. has a 12-month low of $12.26 and a 12-month high of $16.36. The stock’s fifty day simple moving average is $13.64 and its two-hundred day simple moving average is $14.05. The stock has a market capitalization of $1.26 billion, a PE ratio of 8.59 and a beta of 1.49. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 11.34%. The ex-dividend date of this dividend is Tuesday, December 10th. MidCap Financial Investment’s payout ratio is currently 97.44%.

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.