Burgundy Asset Management Ltd. Grows Stock Position in Main Street Capital Co. (NYSE:MAIN)

Burgundy Asset Management Ltd. lifted its stake in Main Street Capital Co. (NYSE:MAIN - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,153,600 shares of the financial services provider's stock after purchasing an additional 17,196 shares during the period. Burgundy Asset Management Ltd. owned about 1.31% of Main Street Capital worth $67,578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vise Technologies Inc. raised its stake in Main Street Capital by 60.6% in the fourth quarter. Vise Technologies Inc. now owns 8,495 shares of the financial services provider's stock valued at $498,000 after buying an additional 3,204 shares in the last quarter. Delta Investment Management LLC increased its position in shares of Main Street Capital by 26.9% during the fourth quarter. Delta Investment Management LLC now owns 26,280 shares of the financial services provider's stock worth $1,539,000 after purchasing an additional 5,563 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Main Street Capital by 44.0% during the fourth quarter. Squarepoint Ops LLC now owns 24,875 shares of the financial services provider's stock worth $1,457,000 after purchasing an additional 7,598 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Main Street Capital by 17.7% during the fourth quarter. ProShare Advisors LLC now owns 15,434 shares of the financial services provider's stock worth $904,000 after purchasing an additional 2,322 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Main Street Capital during the fourth quarter worth about $3,993,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Main Street Capital stock opened at $55.25 on Friday. The company has a market cap of $4.92 billion, a P/E ratio of 10.01 and a beta of 0.86. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The business has a fifty day moving average of $54.38 and a two-hundred day moving average of $56.47. 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 (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million during the quarter, compared to analysts' expectations of $137.50 million. As a group, analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 5.54%. This is a positive change from Main Street Capital's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital's dividend payout ratio is 50.93%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, insider David L. Magdol sold 100,000 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 $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares of the company's stock, valued at $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.

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.

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