Cresset Asset Management LLC Sells 78,036 Shares of Bain Capital Specialty Finance, Inc. $BCSF

Key Points

• Cresset Asset Management LLC reduced its stake in Bain Capital Specialty Finance by 5.6%, selling 78,036 shares, bringing its total holdings to approximately 1.31 million shares valued at $21.80 million.
• Bank of America Corp DE increased its holdings in the company by 3.0%, now owning about 4.54 million shares, while various other institutional investors also adjusted their positions in the stock.
• Wells Fargo & Company has lowered its price target for Bain Capital Specialty Finance from $19.00 to $16.00, maintaining an "overweight" rating on the stock.

Cresset Asset Management LLC lowered its stake in Bain Capital Specialty Finance, Inc. (NYSE:BCSF - Free Report) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,313,478 shares of the company's stock after selling 78,036 shares during the quarter. Cresset Asset Management LLC owned about 2.02% of Bain Capital Specialty Finance worth $21,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Aquatic Capital Management LLC bought a new stake in Bain Capital Specialty Finance during the 4th quarter worth approximately $67,000. Lazard Asset Management LLC increased its stake in shares of Bain Capital Specialty Finance by 14.5% in the fourth quarter. Lazard Asset Management LLC now owns 9,361 shares of the company's stock worth $164,000 after purchasing an additional 1,189 shares in the last quarter. MQS Management LLC bought a new stake in shares of Bain Capital Specialty Finance during the 1st quarter valued at $176,000. XTX Topco Ltd purchased a new position in shares of Bain Capital Specialty Finance during the 4th quarter valued at $197,000. Finally, Advisory Services Network LLC boosted its holdings in Bain Capital Specialty Finance by 16.3% in the 4th quarter. Advisory Services Network LLC now owns 12,245 shares of the company's stock worth $215,000 after buying an additional 1,715 shares during the period.

Bain Capital Specialty Finance Price Performance

BCSF traded down $0.0750 during trading on Wednesday, reaching $15.3250. 285,705 shares of the company traded hands, compared to its average volume of 292,420. The company has a market cap of $994.13 million, a P/E ratio of 9.23 and a beta of 0.83. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.63 and a current ratio of 3.63. Bain Capital Specialty Finance, Inc. has a 12-month low of $13.20 and a 12-month high of $19.21. The firm has a fifty day simple moving average of $15.17 and a 200 day simple moving average of $15.91.

Bain Capital Specialty Finance (NYSE:BCSF - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The firm had revenue of $70.97 million during the quarter, compared to analyst estimates of $67.88 million. Bain Capital Specialty Finance had a net margin of 37.90% and a return on equity of 11.41%. On average, equities analysts forecast that Bain Capital Specialty Finance, Inc. will post 2.06 EPS for the current year.

Bain Capital Specialty Finance Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.03 per share. This represents a dividend yield of 1,166.0%. The ex-dividend date of this dividend was Monday, June 16th. Bain Capital Specialty Finance's dividend payout ratio is 101.20%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their price target on Bain Capital Specialty Finance from $19.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.50.

About Bain Capital Specialty Finance

Bain Capital Specialty Finance, Inc is business development company 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.