Sound Income Strategies LLC Boosts Holdings in Capital Southwest Corporation $CSWC

Key Points

• Sound Income Strategies LLC increased its holdings in Capital Southwest Corporation by 14% in the second quarter, owning 702,201 shares valued at approximately $15.5 million.
• Several hedge funds have also adjusted their positions, with Kingstone Capital Partners acquiring a new stake worth $311 million in the same period.
• Capital Southwest's stock received positive upgrades from multiple analysts, with a current average price target of $24.30 and a consensus rating of "Moderate Buy".

Sound Income Strategies LLC raised its position in Capital Southwest Corporation (NASDAQ:CSWC - Free Report) by 14.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 702,201 shares of the asset manager's stock after purchasing an additional 86,185 shares during the period. Sound Income Strategies LLC owned 1.31% of Capital Southwest worth $15,477,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Capital Southwest in the second quarter worth $311,170,000. Sanders Morris Harris LLC increased its stake in Capital Southwest by 75.9% in the 1st quarter. Sanders Morris Harris LLC now owns 1,433,064 shares of the asset manager's stock worth $31,986,000 after acquiring an additional 618,480 shares during the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of Capital Southwest by 2.1% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 686,513 shares of the asset manager's stock valued at $15,323,000 after acquiring an additional 14,146 shares in the last quarter. Tectonic Advisors LLC boosted its position in shares of Capital Southwest by 10.7% during the 1st quarter. Tectonic Advisors LLC now owns 440,473 shares of the asset manager's stock valued at $9,831,000 after acquiring an additional 42,465 shares during the last quarter. Finally, Melia Wealth LLC grew its holdings in shares of Capital Southwest by 5.2% during the first quarter. Melia Wealth LLC now owns 422,308 shares of the asset manager's stock worth $9,426,000 after purchasing an additional 20,727 shares in the last quarter. 23.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JMP Securities raised shares of Capital Southwest from a "market perform" rating to a "market outperform" rating and set a $25.00 target price on the stock in a research note on Tuesday, June 24th. Citigroup upgraded shares of Capital Southwest to an "outperform" rating in a research report on Tuesday, June 24th. UBS Group upped their target price on shares of Capital Southwest from $21.00 to $22.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial raised their price target on Capital Southwest from $23.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Finally, B. Riley upped their price objective on Capital Southwest from $23.50 to $24.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Capital Southwest has an average rating of "Moderate Buy" and an average price target of $24.30.

Capital Southwest Price Performance

Shares of Capital Southwest stock opened at $22.34 on Monday. The business's 50 day simple moving average is $22.77 and its two-hundred day simple moving average is $21.69. Capital Southwest Corporation has a one year low of $17.46 and a one year high of $25.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market capitalization of $1.24 billion, a P/E ratio of 13.54 and a beta of 0.96.

Capital Southwest (NASDAQ:CSWC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The asset manager reported $0.59 earnings per share for the quarter, hitting analysts' consensus estimates of $0.59. Capital Southwest had a net margin of 39.95% and a return on equity of 14.17%. The company had revenue of $55.95 million during the quarter, compared to analyst estimates of $54.36 million. During the same period in the prior year, the business posted $0.69 earnings per share. Analysts forecast that Capital Southwest Corporation will post 2.54 EPS for the current year.

Capital Southwest Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.1%. Capital Southwest's payout ratio is 140.61%.

About Capital Southwest

Capital Southwest Corporation is a business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, industry consolidation, recapitalizations and growth capital investments.

Want to see what other hedge funds are holding CSWC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Capital Southwest Corporation (NASDAQ:CSWC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.