Starr International Co. Inc. increased its position in shares of Bain Capital Specialty Finance Inc (NYSE:BCSF) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 704,792 shares of the company’s stock after buying an additional 15,519 shares during the quarter. Bain Capital Specialty Finance comprises approximately 5.9% of Starr International Co. Inc.’s portfolio, making the stock its 4th largest position. Starr International Co. Inc. owned about 1.36% of Bain Capital Specialty Finance worth $13,370,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Bain Capital Specialty Finance by 200.9% in the second quarter. Royal Bank of Canada now owns 1,378 shares of the company’s stock worth $26,000 after acquiring an additional 920 shares in the last quarter. CWM LLC acquired a new position in shares of Bain Capital Specialty Finance in the second quarter worth $108,000. Usca Ria LLC acquired a new position in shares of Bain Capital Specialty Finance in the second quarter worth $235,000. PagnatoKarp Partners LLC acquired a new position in shares of Bain Capital Specialty Finance in the second quarter worth $256,000. Finally, Wells Fargo & Company MN grew its stake in shares of Bain Capital Specialty Finance by 107.6% in the second quarter. Wells Fargo & Company MN now owns 14,049 shares of the company’s stock worth $262,000 after acquiring an additional 7,282 shares in the last quarter. 35.06% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded shares of Bain Capital Specialty Finance from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $20.25.
In other news, insider Michael A. Ewald acquired 27,483 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $18.21 per share, with a total value of $500,465.43. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Clare Stack Richer acquired 5,417 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were purchased at an average cost of $18.46 per share, with a total value of $99,997.82. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 37,050 shares of company stock valued at $676,574. Corporate insiders own 0.21% of the company’s stock.
Shares of NYSE:BCSF traded down $0.13 during trading on Friday, hitting $18.58. The company’s stock had a trading volume of 8,274 shares, compared to its average volume of 177,353. The business has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $18.87. The company has a market capitalization of $966.37 million and a PE ratio of 12.81. Bain Capital Specialty Finance Inc has a fifty-two week low of $15.14 and a fifty-two week high of $20.90.
Bain Capital Specialty Finance (NYSE:BCSF) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The firm had revenue of $50.60 million for the quarter, compared to analysts’ expectations of $44.28 million. Bain Capital Specialty Finance had a return on equity of 8.27% and a net margin of 44.83%. On average, equities analysts predict that Bain Capital Specialty Finance Inc will post 1.65 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 30th. Stockholders of record on Monday, September 30th will be given a dividend of $0.41 per share. The ex-dividend date is Friday, September 27th. This represents a $1.64 annualized dividend and a dividend yield of 8.83%. Bain Capital Specialty Finance’s dividend payout ratio (DPR) is currently 113.10%.
About Bain Capital Specialty Finance
Bain Capital Specialty Finance, Inc operates as a business development company (BDC) specializing in direct loans to middle-market companies. The fund seeks to invest in senior investments with a first or second lien on collateral, senior first lien, stretch senior, senior second lien, unitranche, mezzanine debt, junior securities, other junior investments, and secondary purchases of assets or portfolios that primarily consist of middle-market corporate debt.
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