Cwm LLC boosted its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3,732.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,579 shares of the financial services provider's stock after acquiring an additional 31,729 shares during the quarter. Cwm LLC's holdings in Main Street Capital were worth $1,925,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC increased its position in shares of Main Street Capital by 12.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,776 shares of the financial services provider's stock valued at $991,000 after purchasing an additional 1,856 shares during the period. Blue Trust Inc. increased its position in shares of Main Street Capital by 94.2% during the 2nd quarter. Blue Trust Inc. now owns 16,959 shares of the financial services provider's stock valued at $1,002,000 after purchasing an additional 8,226 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Main Street Capital during the 2nd quarter valued at $1,182,000. Tectonic Advisors LLC increased its position in shares of Main Street Capital by 11.2% during the 2nd quarter. Tectonic Advisors LLC now owns 215,481 shares of the financial services provider's stock valued at $12,735,000 after purchasing an additional 21,750 shares during the period. Finally, Castle Rock Wealth Management LLC increased its position in shares of Main Street Capital by 5.1% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 8,943 shares of the financial services provider's stock valued at $579,000 after purchasing an additional 430 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.
Main Street Capital Price Performance
MAIN opened at $58.15 on Monday. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The stock has a fifty day moving average price of $63.97 and a 200 day moving average price of $59.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87.
Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. Analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.
Main Street Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. Main Street Capital's payout ratio is currently 50.41%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Truist Financial lowered their price target on Main Street Capital from $64.00 to $60.00 and set a "hold" rating on the stock in a research report on Wednesday. UBS Group reissued a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Weiss Ratings reissued a "buy (b+)" rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Finally, B. Riley raised their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $60.40.
Read Our Latest Stock Report on Main Street Capital
Insider Activity at Main Street Capital
In other news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.09% of the company's stock.
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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