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

MSC Income Fund (NYSE:MSIF) issued its quarterly earnings data on Thursday. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05), FiscalAI reports.

MSC Income Fund Stock Up 2.7%

Shares of MSC Income Fund stock traded up $0.30 during trading hours on Thursday, hitting $11.77. 407,938 shares of the company were exchanged, compared to its average volume of 324,237. MSC Income Fund has a 1 year low of $10.80 and a 1 year high of $15.14. The firm has a 50-day simple moving average of $11.58. The firm has a market capitalization of $555.13 million and a PE ratio of -3,568.96.

MSC Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, December 2nd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%.

Insider Buying and Selling

In other news, Director Nicholas Meserve acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $28,575.00. Following the transaction, the director directly owned 12,500 shares in the company, valued at approximately $142,875. This represents a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey B. Walker acquired 3,933 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $12.02 per share, for a total transaction of $47,274.66. Following the completion of the purchase, the director directly owned 26,311 shares in the company, valued at $316,258.22. This trade represents a 17.58% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 22,827 shares of company stock valued at $269,622 in the last ninety days.

Institutional Trading of MSC Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB acquired a new position in shares of MSC Income Fund during the second quarter worth about $42,000. Western Wealth Management LLC purchased a new position in shares of MSC Income Fund during the 1st quarter worth approximately $49,000. Raleigh Capital Management Inc. raised its stake in shares of MSC Income Fund by 51.1% during the 1st quarter. Raleigh Capital Management Inc. now owns 5,685 shares of the company’s stock worth $69,000 after buying an additional 1,923 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of MSC Income Fund by 59.8% in the 1st quarter. Sound Income Strategies LLC now owns 6,282 shares of the company’s stock valued at $77,000 after buying an additional 2,350 shares during the period. Finally, Independent Wealth Network Inc. acquired a new stake in shares of MSC Income Fund in the 1st quarter valued at approximately $140,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of MSC Income Fund from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada decreased their price target on shares of MSC Income Fund from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, June 4th. UBS Group lowered their price objective on shares of MSC Income Fund from $14.00 to $13.50 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Zacks Research upgraded shares of MSC Income Fund from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, B. Riley Financial initiated coverage on shares of MSC Income Fund in a report on Thursday, June 18th. They issued a “buy” rating and a $13.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.88.

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.