MSIF: Is This MAIN Number 2 Or A Regular BDC?

(12min)

Summary

  • The MSC Income Fund is a new publicly traded BDC, related to Main Street Capital, focusing on debt and equity financing for private U.S. companies.
  • MSIF has a market capitalization of $700 million, managing $1.2 billion in assets, with 80% in debt.
  • MSIF receives a decent credit score based on our adjusted Moody's methodology.
  • Historically, MSIF has performed averagely compared to peers FDUS and PFLT. Its fair value is estimated at a 7.5% premium to NAV.

Initial public offering concept, 3d rendering

grapestock/iStock via Getty Images

MSC Income Fund, Inc. (NYSE:MSIF) is a new addition to the publicly traded BDC sector. It is not a brand-new company and has a decent history that we can evaluate. It is related to Main Street Capital (

Trade With Beta

At Trade With Beta,

we discuss ideas like this as they happen in more detail. All active investors are welcome to join on a free trial and ask any question in our chat room full of sophisticated traders and investors.

This article was written by

14.14K Followers

Arbitrage Trader, aka Denislav Iliev has been day trading for 15+ years and leads a team of 40 analysts. They identify mispriced investments in fixed-income and closed-end funds based on simple-to-understand financial logic.

Denislav leads the investing group Trade With Beta, features of the service include: frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of 1200+ equities, IPO previews, hedging strategies, an actively managed portfolio, and chat for discussion. Learn more.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MSIF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About MSIF Ticker

SymbolLast Price% Chg
Market Cap
PE
Yield
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on MSIF

Related Stocks

SymbolLast Price% Chg
MSIF
--