MSC Income Fund (NYSE:MSIF) Trading Down 0.8% – Here’s Why

MSC Income Fund (NYSE:MSIF)’s share price fell 0.8% during mid-day trading on Thursday . The stock traded as low as $11.69 and last traded at $11.7280. 263,148 shares were traded during mid-day trading, a decline of 21% from the average session volume of 332,330 shares. The stock had previously closed at $11.82.

Analysts Set New Price Targets

A number of brokerages have recently commented on MSIF. Royal Bank Of Canada reduced 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. Truist Financial dropped their price target on shares of MSC Income Fund from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Zacks Research downgraded shares of MSC Income Fund from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Lucid Cap Mkts upgraded shares of MSC Income Fund to a “hold” rating in a research report on Thursday, March 12th. Finally, UBS Group decreased their price target on shares of MSC Income Fund from $14.00 to $13.50 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MSC Income Fund currently has an average rating of “Hold” and a consensus target price of $14.17.

MSC Income Fund Stock Down 0.8%

The company has a fifty day moving average price of $12.34. The company has a market cap of $552.96 million and a PE ratio of -3,555.02.

MSC Income Fund (NYSE:MSIF) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.34 EPS for the quarter. The company had revenue of $52.10 million during the quarter.

MSC Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 11.3%. The ex-dividend date is Wednesday, September 16th.

Insiders Place Their Bets

In other MSC Income Fund news, Director John O. Jr. Niemann bought 4,922 shares of the company’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $12.10 per share, for a total transaction of $59,556.20. Following the acquisition, the director directly owned 43,648 shares in the company, valued at approximately $528,140.80. The trade was a 12.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak purchased 4,274 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $11.69 per share, with a total value of $49,963.06. Following the completion of the transaction, the chief executive officer owned 64,743 shares of the company’s stock, valued at approximately $756,845.67. The trade was a 7.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 14,183 shares of company stock worth $169,614 in the last three months.

Institutional Trading of MSC Income Fund

Several hedge funds have recently modified their holdings of MSIF. Cetera Investment Advisers lifted its position in shares of MSC Income Fund by 86.9% during the first quarter. Cetera Investment Advisers now owns 311,557 shares of the company’s stock valued at $3,795,000 after buying an additional 144,882 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in MSC Income Fund during the 1st quarter worth approximately $1,411,000. 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. Sigma Planning Corp raised its position in MSC Income Fund by 55.2% during the 1st quarter. Sigma Planning Corp now owns 207,539 shares of the company’s stock worth $2,528,000 after buying an additional 73,847 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of MSC Income Fund by 201.5% during the 1st quarter. Private Advisor Group LLC now owns 93,540 shares of the company’s stock worth $1,139,000 after purchasing an additional 62,514 shares during the period.

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.