Company did not provide specific financial guidance for future quarters or the full year
Overview
US specialty finance firm's Q2 net investment income per share fell slightly from prior quarter
Total investment income declined modestly, mainly due to positions placed on non-accrual
Company repurchased 831,486 shares at an average price of $15.06 per share in Q2
Result Drivers
NON-ACCRUAL POSITIONS - Co said modest decline in investment income was mainly due to more portfolio positions placed on non-accrual
HIGHER EXPENSES - Net expenses rose due to increased interest, financing costs and incentive fees
CAPSTONE JV IMPACT - Capstone JV ramp-up partially offset decline in investment income
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
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