Cerity Partners LLC bought a new position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,429 shares of the financial services provider's stock, valued at approximately $1,575,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MAIN. PNC Financial Services Group Inc. grew its stake in shares of Main Street Capital by 11.9% during the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider's stock worth $363,000 after buying an additional 904 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Main Street Capital during the first quarter worth $274,000. SS&H Financial Advisors Inc. bought a new stake in shares of Main Street Capital during the first quarter worth $1,079,000. Northern Trust Corp grew its stake in shares of Main Street Capital by 40.1% in the first quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider's stock worth $2,018,000 after purchasing an additional 13,542 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Main Street Capital by 6.9% in the first quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider's stock worth $1,861,000 after purchasing an additional 2,814 shares during the last quarter. Institutional investors own 20.31% of the company's stock.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a "hold" rating in a research note on Monday, February 26th. UBS Group boosted their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Royal Bank of Canada boosted their price objective on shares of Main Street Capital from $46.00 to $48.00 and gave the stock an "outperform" rating in a research note on Monday, January 22nd. Oppenheimer boosted their price objective on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a "market perform" rating in a research note on Monday, February 26th. Finally, B. Riley cut shares of Main Street Capital from a "buy" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a research note on Monday, January 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Main Street Capital has an average rating of "Hold" and an average price target of $45.50.
Check Out Our Latest Research Report on Main Street Capital
Main Street Capital Trading Up 0.8 %
MAIN stock traded up $0.40 during midday trading on Friday, hitting $47.62. The stock had a trading volume of 318,269 shares, compared to its average volume of 311,112. The firm has a market cap of $4.05 billion, a P/E ratio of 9.12 and a beta of 1.29. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. Main Street Capital Co. has a 1-year low of $37.70 and a 1-year high of $47.82. The business has a fifty day moving average price of $46.18 and a two-hundred day moving average price of $43.53.
Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, sell-side analysts predict that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.
Main Street Capital Increases Dividend
The business also recently disclosed a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 19th. This represents a dividend yield of 8.37%. This is a positive change from Main Street Capital's previous dividend of $0.24. Main Street Capital's dividend payout ratio is currently 55.17%.
Main Street Capital Profile
(
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.
Further Reading
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