Cresset Asset Management LLC Has $21.80 Million Position in 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 cut its holdings in Bain Capital Specialty Finance, Inc. (NYSE:BCSF - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE raised its position in Bain Capital Specialty Finance by 3.0% in the fourth quarter. Bank of America Corp DE now owns 4,539,555 shares of the company's stock worth $79,533,000 after acquiring an additional 133,753 shares in the last quarter. Melia Wealth LLC raised its position in Bain Capital Specialty Finance by 1.4% in the first quarter. Melia Wealth LLC now owns 931,917 shares of the company's stock worth $15,470,000 after acquiring an additional 12,538 shares in the last quarter. Muzinich & Co. Inc. raised its position in Bain Capital Specialty Finance by 13.3% in the first quarter. Muzinich & Co. Inc. now owns 362,026 shares of the company's stock worth $6,010,000 after acquiring an additional 42,501 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Bain Capital Specialty Finance by 11.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 349,254 shares of the company's stock worth $5,798,000 after acquiring an additional 36,422 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Bain Capital Specialty Finance by 5.2% during the first quarter. Envestnet Asset Management Inc. now owns 346,923 shares of the company's stock valued at $5,759,000 after buying an additional 17,050 shares in the last quarter.

Wall Street Analyst Weigh In

BCSF has been the subject of a number of analyst reports. Zacks Research raised shares of Bain Capital Specialty Finance from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of 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 Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $16.50.

Bain Capital Specialty Finance Stock Up 1.3%

Shares of NYSE BCSF traded up $0.1950 during mid-day trading on Friday, reaching $15.5050. The company had a trading volume of 88,862 shares, compared to its average volume of 290,782. The stock has a fifty day moving average of $15.15 and a two-hundred day moving average of $15.88. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.63 and a current ratio of 3.63. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.34 and a beta of 0.83. Bain Capital Specialty Finance, Inc. has a 12-month low of $13.20 and a 12-month high of $19.21.

Bain Capital Specialty Finance (NYSE:BCSF - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Bain Capital Specialty Finance had a return on equity of 11.41% and a net margin of 37.90%.The firm had revenue of $70.97 million for the quarter, compared to the consensus estimate of $67.88 million. As a group, equities research analysts expect that Bain Capital Specialty Finance, Inc. will post 2.06 EPS for the current year.

Bain Capital Specialty Finance Announces Dividend

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

Bain Capital Specialty Finance Company Profile

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.