MSC Income Fund (NYSE:MSIF) Sees Large Increase in Short Interest

MSC Income Fund (NYSE:MSIF) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 620,300 shares, an increase of 66.2% from the July 15th total of 373,246 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 301,769 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

MSIF has been the topic of several research analyst reports. Truist Financial lifted their price objective on MSC Income Fund from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Royal Bank Of Canada reduced their target price on MSC Income Fund from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, June 4th. B. Riley Financial assumed coverage on MSC Income Fund in a research report on Thursday, June 18th. They issued a “buy” rating and a $13.00 target price on the stock. Zacks Research raised MSC Income Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, UBS Group dropped their price target on MSC Income Fund from $14.00 to $13.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.12.

Insider Activity

In related news, CEO Dwayne L. Hyzak purchased 5,969 shares of MSC Income Fund stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of $11.68 per share, for a total transaction of $69,717.92. Following the transaction, the chief executive officer directly owned 70,712 shares in the company, valued at approximately $825,916.16. This trade represents a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey B. Walker purchased 3,933 shares of MSC Income Fund stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $12.02 per share, with a total value of $47,274.66. Following the transaction, the director owned 26,311 shares in the company, valued at approximately $316,258.22. The trade was a 17.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 17,905 shares of company stock worth $210,066 over the last 90 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC grew its position in MSC Income Fund by 25.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 2,263,426 shares of the company’s stock worth $26,188,000 after purchasing an additional 457,004 shares during the last quarter. North Ground Capital acquired a new position in MSC Income Fund in the 2nd quarter valued at $6,220,032,000. Cetera Investment Advisers raised its position in MSC Income Fund by 86.9% during the 1st quarter. Cetera Investment Advisers now owns 311,557 shares of the company’s stock worth $3,795,000 after buying an additional 144,882 shares during the last quarter. Centaurus Financial Inc. raised its position in MSC Income Fund by 74.0% during the 1st quarter. Centaurus Financial Inc. now owns 214,948 shares of the company’s stock worth $2,618,000 after buying an additional 91,383 shares during the last quarter. Finally, Sigma Planning Corp lifted its stake in shares of MSC Income Fund by 55.2% in the 1st quarter. Sigma Planning Corp now owns 207,539 shares of the company’s stock worth $2,528,000 after acquiring an additional 73,847 shares during the period.

MSC Income Fund Stock Performance

Shares of MSIF traded down $0.26 during midday trading on Monday, reaching $12.18. The company had a trading volume of 250,079 shares, compared to its average volume of 324,757. MSC Income Fund has a 1-year low of $10.80 and a 1-year high of $14.55. The business has a 50 day simple moving average of $11.61. The company has a market capitalization of $574.27 million and a PE ratio of -3,692.03.

MSC Income Fund (NYSE:MSIF) last posted its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $54.66 million during the quarter, compared to the consensus estimate of $35.46 million.

MSC Income Fund Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 16th will be issued a $0.03 dividend. This represents a yield of 1,121.0%. The ex-dividend date of this dividend is Wednesday, December 16th.

MSC Income Fund (NYSE: MSIF) is a publicly traded investment company listed on the New York Stock Exchange that aims to provide shareholders with current income and the potential for capital appreciation through a diversified portfolio of income-producing assets. The fund offers investors a single vehicle to gain exposure to a variety of yield-generating securities managed under a unified investment strategy.

The fund’s portfolio strategy emphasizes a broad approach to income generation, with allocations that can include fixed-income instruments and other income-oriented securities.