MSC Income Fund (NYSE:MSIF) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of MSC Income Fund (NYSE:MSIF) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $12.14 and traded as high as $12.37. MSC Income Fund shares last traded at $12.32, with a volume of 188,581 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MSIF. 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. UBS Group decreased their target price on shares of MSC Income Fund from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Tuesday, September 1st. Oppenheimer started coverage on shares of MSC Income Fund in a report on Monday, October 26th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Truist Financial increased their price target 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.10.

MSC Income Fund Price Performance

The company has a market capitalization of $580.88 million and a price-to-earnings ratio of 5.76. The stock has a fifty day simple moving average of $12.10 and a 200-day simple moving average of $12.14.

MSC Income Fund (NYSE:MSIF) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.05). The business had revenue of $35.70 million during the quarter, compared to analyst estimates of $35.46 million.

Hedge Funds Weigh In On MSC Income Fund

Several large investors have recently made changes to their positions in MSIF. Sanders Morris Harris LLC grew its position in shares of MSC Income Fund by 28.5% during the 3rd quarter. Sanders Morris Harris LLC now owns 2,908,143 shares of the company’s stock valued at $35,525,000 after acquiring an additional 644,717 shares during the period. Van ECK Associates Corp increased its stake in shares of MSC Income Fund by 35.8% in the 2nd quarter. Van ECK Associates Corp now owns 915,670 shares of the company’s stock valued at $10,594,000 after purchasing an additional 241,495 shares in the last quarter. North Ground Capital acquired a new position in MSC Income Fund in the 2nd quarter worth about $6,220,032. Cetera Investment Advisers raised its holdings in MSC Income Fund by 86.9% in the 1st quarter. Cetera Investment Advisers now owns 311,557 shares of the company’s stock worth $3,795,000 after purchasing an additional 144,882 shares during the period. Finally, Centaurus Financial Inc. raised its holdings in MSC Income Fund by 74.0% in the 1st quarter. Centaurus Financial Inc. now owns 214,948 shares of the company’s stock worth $2,618,000 after purchasing an additional 91,383 shares during the period.

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.