Ameriflex Group Inc. Takes $1.49 Million Position in Main Street Capital Co. (NYSE:MAIN)

Ameriflex Group Inc. acquired a new stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,033 shares of the financial services provider's stock, valued at approximately $1,489,000.

A number of other hedge funds also recently made changes to their positions in MAIN. US Bancorp DE boosted its holdings in shares of Main Street Capital by 8.4% during the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock valued at $151,000 after acquiring an additional 200 shares during the period. PFG Investments LLC lifted its holdings in Main Street Capital by 1.6% in the 4th quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider's stock valued at $799,000 after acquiring an additional 219 shares during the last quarter. Harbour Investments Inc. raised its holdings in Main Street Capital by 6.9% during the 4th quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider's stock worth $206,000 after buying an additional 228 shares during the period. Wedbush Securities Inc. raised its holdings in Main Street Capital by 6.2% during the 4th quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider's stock worth $269,000 after buying an additional 266 shares during the period. Finally, Marble Harbor Investment Counsel LLC raised its holdings in Main Street Capital by 4.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 6,285 shares of the financial services provider's stock worth $368,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 20.31% of the company's stock.

Main Street Capital Trading Up 0.4%

MAIN traded up $0.25 during midday trading on Wednesday, reaching $57.08. 424,051 shares of the company were exchanged, compared to its average volume of 465,066. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The stock has a market capitalization of $5.08 billion, a P/E ratio of 10.34 and a beta of 0.86. The stock's 50-day simple moving average is $54.25 and its 200 day simple moving average is $56.61.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. As a group, analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, September 8th. This is a positive change from Main Street Capital's previous monthly dividend of $0.25. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.36%. Main Street Capital's payout ratio is presently 50.93%.

Insider Buying and Selling

In other news, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MAIN. Truist Financial dropped their target price on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, UBS Group reduced their price objective on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.80.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.