MSC Income Fund (NYSE:MSIF) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of MSC Income Fund (NYSE:MSIF) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. UBS Group dropped 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 note on Monday, May 18th. Royal Bank Of Canada lowered their price objective on MSC Income Fund from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, June 4th. B. Riley Financial began coverage on shares of MSC Income Fund in a research report on Thursday, June 18th. They set a “buy” rating and a $13.00 target price on the stock. Finally, Truist Financial decreased their price target on MSC Income Fund from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MSC Income Fund currently has an average rating of “Moderate Buy” and a consensus price target of $13.88.

MSC Income Fund Trading Down 1.1%

MSIF opened at $11.12 on Monday. The stock has a market cap of $524.53 million and a P/E ratio of -3,372.23. The firm’s 50 day moving average is $11.75. MSC Income Fund has a 52 week low of $11.09 and a 52 week high of $16.85.

MSC Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend is Wednesday, September 16th.

Insider Buying and Selling

In related news, CEO Dwayne L. Hyzak bought 5,969 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $11.68 per share, for a total transaction of $69,717.92. Following the acquisition, the chief executive officer owned 70,712 shares in the company, valued at $825,916.16. This represents a 9.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John O. Jr. Niemann purchased 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, with a total value of $59,556.20. Following the transaction, the director directly owned 43,648 shares of the company’s stock, valued at $528,140.80. This represents a 12.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have bought 22,827 shares of company stock valued at $269,622.

Institutional Trading of MSC Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in MSIF. Raleigh Capital Management Inc. raised its stake in MSC Income Fund by 51.1% in the 1st quarter. Raleigh Capital Management Inc. now owns 5,685 shares of the company’s stock valued at $69,000 after purchasing an additional 1,923 shares during the last quarter. PFG Investments LLC lifted its holdings in MSC Income Fund by 15.4% in the 1st quarter. PFG Investments LLC now owns 14,846 shares of the company’s stock valued at $181,000 after purchasing an additional 1,983 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of MSC Income Fund by 59.8% during the 1st quarter. Sound Income Strategies LLC now owns 6,282 shares of the company’s stock worth $77,000 after purchasing an additional 2,350 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of MSC Income Fund during the 2nd quarter worth about $42,000. Finally, Legacy Wealth Managment LLC ID grew its holdings in shares of MSC Income Fund by 2.8% during the first quarter. Legacy Wealth Managment LLC ID now owns 138,174 shares of the company’s stock worth $1,683,000 after buying an additional 3,767 shares in the last quarter.

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.