Short Interest in Bain Capital Specialty Finance, Inc. (NYSE: BCSF) Decreases By 37.8%

Bain Capital Specialty Finance, Inc. (NYSE: BCSF) experienced a notable drop in short interest in October. As of October 15th, the short interest reached a total of 229,200 shares, reflecting a significant decline of 37.8% from the previous total of 368,300 shares reported on September 30th. Currently, short positions represent approximately 0.4% of the company's overall stock. With an average daily trading volume of 185,500 shares, the days-to-cover ratio stands at 1.2 days.

Current Performance of Bain Capital Specialty Finance

On Friday, Bain Capital Specialty Finance opened trading at $16.74. The company exhibits a quick ratio of 1.80, alongside a current ratio of 1.80 and a debt-to-equity ratio amounting to 1.03. The company's 50-day moving average price sits at $16.80, while the 200-day moving average price is $16.52. Over the past year, Bain Capital Specialty Finance has seen a low of $14.64 and a high of $17.25. The firm currently holds a market capitalization of $1.08 billion, with a price-to-earnings ratio of 8.37 and a beta of 1.13.

Bain Capital Specialty Finance announced its latest quarterly earnings on August 6th. The company reported earnings per share (EPS) of $0.51 for the quarter, surpassing the consensus estimate of $0.47 by $0.04. The return on equity for the company was recorded at 12.09%, complemented by a net margin of 43.90%. The total revenue for the quarter was $72.27 million, compared to $0.60 EPS during the same period last year. Analysts project that Bain Capital Specialty Finance will report earnings per share of 2.03 for the current year.

Market Analysts' Insights

Institutional Trading Activity

In terms of institutional trading, several hedge funds have adjusted their stake in Bain Capital Specialty Finance recently. BI Asset Management Fondsmaeglerselskab A S increased its ownership of the company’s shares by 41.5% in the first quarter, amassing 165,005 shares valued at $2,587,000, following the acquisition of an additional 48,404 shares. Van ECK Associates Corp raised its stake by 13.4% during the same quarter, now holding 886,423 shares valued at $13,899,000 after purchasing an extra 104,422 shares. Additionally, LSV Asset Management took a new position worth $847,000 in Bain Capital Specialty Finance. Sumitomo Mitsui Trust Holdings Inc. grew its stake by 2.8% in the first quarter to 237,126 shares valued at $3,718,000 after acquiring 6,536 additional shares. Lastly, Janney Montgomery Scott LLC increased its holdings by 28.7% in the first quarter, now owning 68,202 shares worth $1,069,000 after an acquisition of 15,196 shares during this period.

About Bain Capital Specialty Finance

Bain Capital Specialty Finance, Inc. operates as a business development company that specializes in providing direct loans to mid-sized companies. The fund primarily seeks investments in senior debt instruments secured with first or second liens on collateral, including various forms of debt such as senior first lien, stretch senior, senior second lien, unitranche, mezzanine debt, junior securities, and other junior investments. The fund is also involved in the secondary purchase of assets or portfolios that mainly comprise middle-market corporate debt.

Finance, Stocks, Investing