Franklin Resources Inc. boosted its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) by 32.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 384,054 shares of the company's stock after purchasing an additional 93,972 shares during the quarter. Franklin Resources Inc. owned about 0.41% of MidCap Financial Investment worth $5,116,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its position in shares of MidCap Financial Investment by 71.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,935 shares of the company's stock valued at $26,000 after buying an additional 809 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in MidCap Financial Investment by 4.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,962 shares of the company's stock valued at $294,000 after acquiring an additional 837 shares during the last quarter. Muzinich & Co. Inc. lifted its stake in MidCap Financial Investment by 0.5% in the 3rd quarter. Muzinich & Co. Inc. now owns 186,599 shares of the company's stock worth $2,499,000 after purchasing an additional 946 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of MidCap Financial Investment by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 180,756 shares of the company's stock valued at $2,420,000 after purchasing an additional 946 shares during the last quarter. Finally, Farther Finance Advisors LLC grew 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 valued at $354,000 after purchasing an additional 1,025 shares in the last quarter. 28.45% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on MFIC. Royal Bank of Canada reissued 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. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.71.
Check Out Our Latest Analysis on MFIC
NASDAQ MFIC opened at $13.40 on Tuesday. The company has a market cap of $1.26 billion, a P/E ratio of 8.59 and a beta of 1.49. The business's 50 day moving average price is $13.64 and its 200-day moving average price is $14.05. MidCap Financial Investment Co. has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Tuesday, December 10th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.52 annualized dividend and a dividend yield of 11.34%. MidCap Financial Investment's dividend payout ratio (DPR) is presently 97.44%.
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.
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