UBS Group Cuts MSC Income Fund (NYSE:MSIF) Price Target to $12.50

MSC Income Fund (NYSE:MSIF) had its price objective trimmed by UBS Group from $13.50 to $12.50 in a research report released on Tuesday, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.

MSIF has been the topic of several other research reports. B. Riley Financial initiated coverage on MSC Income Fund in a research report on Thursday, June 18th. They issued a “buy” rating and a $13.00 price objective on the stock. Truist Financial raised their target price on MSC Income Fund from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Royal Bank Of Canada lowered their target price on MSC Income Fund from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Zacks Research raised shares of MSC Income Fund from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.88.

MSC Income Fund Stock Performance

NYSE:MSIF opened at $12.59 on Tuesday. MSC Income Fund has a 52 week low of $10.80 and a 52 week high of $14.46. The company has a 50-day moving average price of $11.88. The stock has a market cap of $593.61 million and a price-to-earnings ratio of -3,816.31.

MSC Income Fund (NYSE:MSIF) last announced its earnings results on Thursday, August 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The firm had revenue of $35.70 million during the quarter, compared to analysts’ expectations of $35.46 million.

MSC Income Fund Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Wednesday, December 16th will be given a $0.03 dividend. This represents a yield of 1,121.0%. The ex-dividend date of this dividend is Wednesday, December 16th.

Insider Buying and Selling at MSC Income Fund

In other news, CEO Dwayne L. Hyzak purchased 5,969 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average price of $11.68 per share, for a total transaction of $69,717.92. Following the purchase, the chief executive officer owned 70,712 shares of the company’s stock, valued at $825,916.16. The trade was a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Meserve acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $11.43 per share, with a total value of $28,575.00. Following the acquisition, the director owned 12,500 shares in the company, valued at $142,875. The trade was a 25.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 14,693 shares of company stock worth $172,101.

Hedge Funds Weigh In On MSC Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. North Ground Capital purchased a new position in shares of MSC Income Fund in the second quarter worth about $6,220,032. Sanders Morris Harris LLC lifted its stake in shares of MSC Income Fund by 25.3% during the 2nd quarter. Sanders Morris Harris LLC now owns 2,263,426 shares of the company’s stock valued at $26,188,000 after buying an additional 457,004 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of MSC Income Fund by 35.8% during the 2nd quarter. Van ECK Associates Corp now owns 915,670 shares of the company’s stock valued at $10,594,000 after buying an additional 241,495 shares in the last quarter. Centaurus Financial Inc. bought a new position in MSC Income Fund in the 2nd quarter worth approximately $2,433,000. Finally, BlackRock Inc. bought a new position in MSC Income Fund in the 2nd quarter worth approximately $2,023,000.

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.