Focus Financial Network Inc. grew its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 14.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,849 shares of the financial services provider's stock after purchasing an additional 4,160 shares during the quarter. Focus Financial Network Inc.'s holdings in Main Street Capital were worth $2,000,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. boosted its position in Main Street Capital by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock worth $67,578,000 after purchasing an additional 17,196 shares during the period. Jones Financial Companies Lllp boosted its position in Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock worth $33,405,000 after purchasing an additional 589,307 shares during the period. Invesco Ltd. boosted its position in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares during the period. Adell Harriman & Carpenter Inc. boosted its position in Main Street Capital by 5.2% during the first quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock worth $25,319,000 after purchasing an additional 22,090 shares during the period. Finally, LPL Financial LLC boosted its position in Main Street Capital by 2.7% during the first quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock worth $17,385,000 after purchasing an additional 8,203 shares during the period. Institutional investors own 20.31% of the company's stock.
Main Street Capital Trading Up 0.5%
MAIN stock opened at $66.12 on Friday. The company has a market capitalization of $5.91 billion, a PE ratio of 10.89 and a beta of 0.88. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The company's 50 day moving average price is $65.29 and its two-hundred day moving average price is $59.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.
Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. As a group, analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.
Main Street Capital Announces Dividend
The company also recently announced a dividend, which will be paid on Friday, September 26th. Stockholders of record on Monday, September 22nd will be issued a $0.30 dividend. The ex-dividend date is Friday, September 19th. This represents a dividend yield of 635.0%. Main Street Capital's dividend payout ratio (DPR) is currently 50.41%.
Insider Activity at Main Street Capital
In other news, Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. B. Riley raised their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Truist Financial raised their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. UBS Group restated a "neutral" rating and issued a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.
Get Our Latest Analysis on MAIN
About Main Street Capital
(
Free Report)
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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