If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider MidCap Financial Investment (MFIC) . This company, which is in the Zacks Financial - Miscellaneous Services industry, shows potential for another earnings beat. When looking at the last two reports, this investment company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 4.65%, ...

MidCap Financial Investment (MFIC) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. ...

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a closed-end, externally managed, diversified management investment company that has elected to be treated as a business development company ("BDC") under the Investment Company Act of 1940 (the "1940 Act"). For tax purposes, the Company has elected to be treated as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The Company is externally managed by Apollo Investment Management, ...

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- MidCap Financial Investment Corporation (NASDAQ: MFIC) (the "Company") announced today that it will report results for the quarter ended June 30, 2024, after the closing of the Nasdaq Global Select Market on Wednesday, August 7, 2024. The Company will host a conference call on Thursday, August 8, 2024, at 8:30 a.m. Eastern Time. All interested parties are welcome to participate in the conference call by dialing (800) 343-5172 approximately 5-10 minutes prior to th ...

Midcap Financial Investment Corp. (MFIC) and Apollo Senior Floating Rate Fund Inc. and Apollo Tactical Income Fund Inc.'s (collectively referred to as "CEF") proposed merger received approval from CEF Stockholders recently. The approval was granted during the special stockholders meeting on Jun 21, 2024. On May 28, 2024, MFIC's stockholders approved the merger in a special meeting. The merger is expected to be closed in late July, subject to fulfillment of customary closing conditions. Stockholders of CEF w ...

Core Viewpoint - MidCap Financial Investment Corporation (MFIC) has a diversified portfolio primarily focused on senior secured loans, with a significant portion in floating-rate loans, which may face challenges if interest rates decline in the future [1][4][10]. Portfolio Overview - As of March 2024, MFIC's portfolio is valued at $2.35 billion, with 97% in first liens and 100% in floating-rate loans [1]. - The portfolio includes an investment in Merx Aviation, representing 8% of the total portfolio value, providing unique positioning in the BDC market [1]. Financial Performance - In 1Q24, MFIC earned $68.3 million in total investment income, a 1% increase year-over-year, but net investment income fell by 3% due to higher interest and debt expenses [7]. - The net investment income per share was $0.44, down $0.01 year-over-year, with a consistent dividend payout of $0.38 per share [8]. Credit Quality - The non-accrual ratio for MFIC was 0.6% based on fair value, reflecting a slight increase of 0.4 percentage points quarter-over-quarter, indicating robust credit quality [11]. - The BDC's credit quality is comparable to Ares Capital Corp., which reported a non-accrual ratio of 0.7% in 1Q24 [5]. Dividend Metrics - MFIC maintains a dividend payout ratio of 86%, indicating a stable dividend supported by consistent earnings and cash flow [8][13]. - The current dividend yield stands at 9.4%, with a stable payout ratio over the past year, ranging between 83% and 88% [13]. Market Position and Valuation - MFIC's stock is currently trading at a 5% premium to book value, compared to a 9% discount when first recommended, suggesting a shift in market perception [14]. - The company is expected to face challenges in sustaining its premium valuation in a potentially lower interest rate environment [14][15].

J Studios/DigitalVision via Getty ImagesOverview I've covered a ton of business development companies ('BDC') in the last month, and there aren't many opportunities for attractive price entries in the sector. This is due to the mass price run of many quality BDCs, as they've all thrived in a higher interest rate environment. However, I believe that we have an attractive opportunity with MidCap Financial Investment Corp (NASDAQ:MFIC) as they are currently in the process of completing a merger. MFIC opera ...

Financial Data and Key Metrics Changes - Net investment income per share for Q1 2024 was $0.44, reflecting an annualized return on equity (ROE) of 11.4% [21] - GAAP EPS for the quarter was $0.39, with a slight increase in net asset value per share to $5.42, up $0.01 from the previous quarter [58] - Net expenses for the quarter were $39.8 million, down $2.4 million compared to the prior quarter [59] Business Line Data and Key Metrics Changes - Corporate lending and other represented 92% of the total portfolio, with 97% being first lien on a fair value basis, up from 96% last quarter [22] - New investment commitments totaled $149 million across 16 different borrowers, with an average new commitment of $9.3 million [28] - The weighted average spread of new commitments was relatively unchanged at 624 basis points, one basis point lower than the previous quarter [29] Market Data and Key Metrics Changes - The lending market saw an increase in activity in the syndicated loan market, with MFIC focusing on the middle market, which is less susceptible to competition [10] - The weighted average interest coverage ratio remained at 1.9x, with four companies below one times [36] - The weighted average net leverage of the corporate lending portfolio was 5.36x, up from 5.27x last quarter [53] Company Strategy and Development Direction - MFIC is focused on the core middle market, which offers attractive investment opportunities across cycles and does not compete directly with the broadly syndicated loan market [24] - The company is excited about proposed mergers with AFT and AIF, which are expected to create a stronger combined entity with enhanced returns and portfolio diversification [12] - The strategy includes maintaining a focus on first lien loans and reducing exposure to second lien positions, with only 0.7% of the total corporate lending portfolio being non-first lien [30] Management's Comments on Operating Environment and Future Outlook - Despite high interest rates and inflation, the U.S. economy has shown resilience and strong growth, with expectations for the Federal Reserve to potentially not cut rates in 2024 [9] - Management has not observed significant signs of credit weakness across the portfolio and continues to monitor the impacts of a prolonged high-rate environment [8] - Portfolio companies have shown strong fundamental performance, with median revenue and EBITDA growth in the mid-single digits year-over-year [34] Other Important Information - The company declared a dividend of $0.38 per share, consistent with the prior quarter, representing an annualized yield of approximately 9.9% based on NAV per share [25][50] - The weighted average interest rate on debt for the quarter was 7.09%, reflecting the impact of CLO notes and baby bonds [59] - The company has a strong pipeline of investment opportunities, supported by a large dedicated portfolio management team [55] Q&A Session Summary Question: What is the current competitive landscape in the middle market? - Management noted that while there is competition causing spread compression, the middle market remains insulated from broader syndicated market fluctuations [64] Question: How will the merger affect the seniority profile of the portfolio? - The focus on first lien loans will remain, and the merger is expected to enhance the ability to deploy capital into these loans [66] Question: What discussions have been had with sponsors regarding credit quality? - Sponsors are becoming more efficient and are engaging in early discussions about extensions and re-pricings due to the current high interest rate environment [71][73]

Confidential and Proprietary - Not for distribution, in whole or in part, without the express written consent of Apollo Global Management, Inc. MidCap Financial Investment Corporation Disclaimers, Definitions and Important Notes Some of the statements in this presentation constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: future operating results of MidCap Financial Investment Cor ...

For the quarter ended March 2024, MidCap Financial Investment (MFIC) reported revenue of $68.33 million, up 0.8% over the same period last year. EPS came in at $0.44, compared to $0.45 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $69.48 million, representing a surprise of -1.66%. The company delivered an EPS surprise of +2.33%, with the consensus EPS estimate being $0.43.While investors closely watch year-over-year changes in headline numbers -- revenue and earnin ...