Dearborn Partners LLC acquired a new position in Main Street Capital Corporation (NYSE:MAIN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,832 shares of the financial services provider's stock, valued at approximately $1,527,000.
Several other hedge funds have also modified their holdings of MAIN. Garner Asset Management Corp purchased a new position in shares of Main Street Capital in the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in Main Street Capital during the second quarter worth approximately $28,000. Smartleaf Asset Management LLC boosted its position in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Sankala Group LLC acquired a new stake in Main Street Capital in the fourth quarter valued at approximately $29,000. Finally, Gilpin Wealth Management LLC acquired a new stake in Main Street Capital in the fourth quarter valued at approximately $31,000. 20.31% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on MAIN. Citigroup restated a "market outperform" rating on shares of Main Street Capital in a research report on Monday, August 10th. Wells Fargo & Company lifted their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $66.00 to $58.00 and set an "outperform" rating for the company in a report on Thursday, May 14th. Weiss Ratings cut shares of Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Main Street Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $60.83.
Check Out Our Latest Stock Analysis on MAIN
Main Street Capital Price Performance
Shares of Main Street Capital stock opened at $58.92 on Tuesday. The business has a 50 day simple moving average of $54.32 and a two-hundred day simple moving average of $54.62. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.34. The stock has a market capitalization of $5.51 billion, a P/E ratio of 11.88 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.
Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The firm had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. As a group, analysts predict that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.
Main Street Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital's payout ratio is 64.11%.
Insider Buying and Selling at Main Street Capital
In other news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the sale, the executive vice president directly owned 196,185 shares in the company, valued at $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ryan Mchugh acquired 2,550 shares of the business's stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $59.05 per share, with a total value of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.83% of the company's stock.
Main Street Capital Company Profile
(
Free Report)
Main Street Capital Corporation NYSE: MAIN is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm's management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.
Main Street Capital's primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.
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