Sharpepoint LLC Takes Position in Main Street Capital Co. (NYSE:MAIN)

Sharpepoint LLC bought a new position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,229 shares of the financial services provider's stock, valued at approximately $1,361,000. Main Street Capital makes up about 1.2% of Sharpepoint LLC's holdings, making the stock its 27th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Main Street Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock valued at $75,469,000 after purchasing an additional 92,833 shares during the last quarter. Adell Harriman & Carpenter Inc. grew its stake in shares of Main Street Capital by 1.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider's stock valued at $24,929,000 after buying an additional 6,297 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Main Street Capital by 1.6% in the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock valued at $17,525,000 after buying an additional 4,740 shares during the period. Paradiem LLC lifted its stake in Main Street Capital by 0.3% during the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider's stock worth $16,437,000 after acquiring an additional 732 shares in the last quarter. Finally, Muzinich & Co. Inc. grew its position in Main Street Capital by 5.0% in the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider's stock valued at $13,062,000 after acquiring an additional 10,593 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Down 0.6 %

NYSE MAIN traded down $0.34 on Friday, hitting $54.30. 235,970 shares of the stock were exchanged, compared to its average volume of 441,395. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The company has a 50-day moving average price of $56.35 and a 200-day moving average price of $56.11. The company has a market cap of $4.81 billion, a PE ratio of 9.84 and a beta of 0.98. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to analysts' expectations of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Sell-side analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were paid a $0.30 dividend. This is a positive change from Main Street Capital's previous dividend of $0.25. This represents a yield of 7.11%. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital's dividend payout ratio is currently 51.37%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group lowered their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Truist Financial raised their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Main Street Capital currently has an average rating of "Hold" and an average target price of $52.60.

Insiders Place Their Bets

In other news, insider David L. Magdol sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

About Main Street Capital

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.