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

Westchester Capital Management LLC acquired a new position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,702 shares of the company’s stock, valued at approximately $103,000.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in MidCap Financial Investment by 49.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock valued at $30,079,000 after acquiring an additional 755,436 shares during the period. Foundations Investment Advisors LLC bought a new position in MidCap Financial Investment during the 3rd quarter worth $4,172,000. International Assets Investment Management LLC lifted its holdings in MidCap Financial Investment by 1,208.0% during the 3rd quarter. International Assets Investment Management LLC now owns 281,672 shares of the company’s stock worth $3,772,000 after buying an additional 260,137 shares during the period. Advisors Asset Management Inc. increased its stake in shares of MidCap Financial Investment by 139.5% in the third quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock valued at $5,952,000 after buying an additional 258,940 shares during the period. Finally, Confluence Investment Management LLC bought a new position in shares of MidCap Financial Investment during the third quarter worth about $1,179,000. 28.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

MidCap Financial Investment Stock Up 0.9 %

Shares of NASDAQ MFIC opened at $14.17 on Friday. 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 PE ratio of 9.08 and a beta of 1.50. The company’s fifty day simple moving average is $13.52 and its 200 day simple moving average is $14.27. MidCap Financial Investment Co. has a 12-month low of $12.26 and a 12-month high of $16.36.

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Investors of record on Tuesday, December 10th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date is Tuesday, December 10th. MidCap Financial Investment’s payout ratio is 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.