Bain Capital Specialty Finance (NYSE:BCSF) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bain Capital Specialty Finance (NYSE:BCSF) from a strong sell rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Bain Capital Specialty Finance Inc. is a business development company. It focuses on investment in middle-market companies. Bain Capital Specialty Finance Inc. is based in Boston, United States. “

BCSF opened at $18.58 on Tuesday. The firm has a 50-day simple moving average of $18.71 and a two-hundred day simple moving average of $18.87. Bain Capital Specialty Finance has a 52 week low of $15.14 and a 52 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 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Bain Capital Specialty Finance had a net margin of 44.83% and a return on equity of 8.27%. The company had revenue of $50.60 million for the quarter, compared to the consensus estimate of $44.28 million. On average, sell-side analysts forecast that Bain Capital Specialty Finance will post 1.65 EPS for the current fiscal year.

The firm also recently announced 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. This represents a $1.64 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Friday, September 27th. Bain Capital Specialty Finance’s dividend payout ratio is 113.10%.

In other Bain Capital Specialty Finance news, Director Clare Stack Richer bought 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, for a total transaction of $99,997.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael A. Ewald bought 27,483 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $18.21 per share, for a total transaction of $500,465.43. The disclosure for this purchase can be found here. Insiders have bought a total of 37,050 shares of company stock worth $676,574 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimension Capital Management LLC raised its position in shares of Bain Capital Specialty Finance by 452.1% during the 2nd quarter. Dimension Capital Management LLC now owns 4,115,926 shares of the company’s stock valued at $76,636,000 after buying an additional 3,370,479 shares in the last quarter. UBS Group AG raised its position in shares of Bain Capital Specialty Finance by 2,595.2% during the 2nd quarter. UBS Group AG now owns 2,683,754 shares of the company’s stock valued at $49,972,000 after buying an additional 2,584,177 shares in the last quarter. Colony Group LLC purchased a new stake in shares of Bain Capital Specialty Finance during the 2nd quarter valued at about $14,239,000. Starr International Co. Inc. raised its position in Bain Capital Specialty Finance by 2.3% in the 3rd quarter. Starr International Co. Inc. now owns 704,792 shares of the company’s stock worth $13,370,000 after purchasing an additional 15,519 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in Bain Capital Specialty Finance in the 2nd quarter worth about $11,772,000. Hedge funds and other institutional investors own 35.06% of the company’s stock.

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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