MSC Income Fund (NYSE:MSIF) Issues Quarterly Earnings Results

MSC Income Fund (NYSE:MSIF) posted its quarterly earnings results on Thursday. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01), FiscalAI reports. The business had revenue of $35.53 million for the quarter, compared to analysts’ expectations of $36.82 million.

MSC Income Fund Stock Performance

Shares of NYSE MSIF traded up $0.12 during mid-day trading on Friday, reaching $12.37. The company had a trading volume of 19,479 shares, compared to its average volume of 285,698. MSC Income Fund has a twelve month low of $10.80 and a twelve month high of $14.46. The stock’s 50 day moving average is $12.09 and its 200-day moving average is $12.14. The stock has a market capitalization of $583.00 million and a PE ratio of 5.78.

MSC Income Fund Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, March 23rd. Stockholders of record on Tuesday, March 16th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, March 16th.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group reduced their target price on MSC Income Fund from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, September 1st. Oppenheimer began coverage on MSC Income Fund in a research report on Monday, October 26th. They set an “outperform” rating and a $15.00 price target 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, Truist Financial raised their price objective on MSC Income Fund from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.10.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sanders Morris Harris LLC increased its holdings in MSC Income Fund by 28.5% in the third quarter. Sanders Morris Harris LLC now owns 2,908,143 shares of the company’s stock worth $35,525,000 after buying an additional 644,717 shares during the last quarter. North Ground Capital acquired a new stake in MSC Income Fund in the second quarter valued at approximately $6,220,032. Van ECK Associates Corp lifted its stake in MSC Income Fund by 35.8% in the second quarter. Van ECK Associates Corp now owns 915,670 shares of the company’s stock valued at $10,594,000 after acquiring an additional 241,495 shares during the last quarter. Centaurus Financial Inc. acquired a new stake in MSC Income Fund in the second quarter valued at approximately $2,433,000. Finally, BlackRock Inc. bought a new stake in MSC Income Fund in the second quarter worth approximately $2,023,000.

MSC Income Fund (NYSE: MSIF) is a business development company that invests in privately held, primarily U.S.-based businesses. The fund seeks to provide capital to lower middle-market companies that may have limited access to traditional financing sources.

Its investment activities generally include providing senior secured loans, subordinated debt and other forms of financing, along with selective equity investments. MSC Income Fund works with portfolio companies across a range of industries and may support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.

The fund is externally managed by MSC Adviser I, LLC, an affiliate of Main Street Capital Corporation.