Confluence Investment Management LLC cut its position in shares of Main Street Capital Co. (NYSE:MAIN) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,019 shares of the financial services provider’s stock after selling 17,907 shares during the period. Confluence Investment Management LLC owned approximately 0.21% of Main Street Capital worth $5,482,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MAIN. Founders Capital Management purchased a new position in Main Street Capital during the 4th quarter worth $26,000. Marshall Wace North America L.P. bought a new position in shares of Main Street Capital during the 1st quarter worth approximately $30,000. Crescent Capital Consulting LLC acquired a new stake in shares of Main Street Capital in the 4th quarter worth $27,000. Manchester Financial Inc. acquired a new position in shares of Main Street Capital during the fourth quarter valued at about $29,000. Finally, Huntington National Bank raised its holdings in shares of Main Street Capital by 120,000.0% in the fourth quarter. Huntington National Bank now owns 1,201 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 19.46% of the company’s stock.
Several equities research analysts have weighed in on MAIN shares. Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, March 3rd. Raymond James raised shares of Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Thursday, April 1st. Royal Bank of Canada boosted their price target on Main Street Capital from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Finally, Truist raised their price objective on Main Street Capital from $32.00 to $37.00 in a report on Friday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.86.
Shares of Main Street Capital stock traded down $0.01 on Thursday, hitting $41.27. The stock had a trading volume of 329 shares, compared to its average volume of 399,981. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -72.70 and a beta of 1.42. The company’s 50 day moving average price is $37.67 and its 200 day moving average price is $32.87. Main Street Capital Co. has a 52-week low of $21.50 and a 52-week high of $41.43.
Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 25th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.09. Main Street Capital had a negative net margin of 15.34% and a positive return on equity of 9.71%. The firm had revenue of $62.50 million during the quarter, compared to analysts’ expectations of $54.94 million. Analysts predict that Main Street Capital Co. will post 2.01 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Friday, May 28th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $2.46 annualized dividend and a dividend yield of 5.96%. Main Street Capital’s dividend payout ratio is presently 98.40%.
Main Street Capital Profile
Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm also provides debt capital to middle market companies for acquisitions, management buyouts, growth financings, recapitalizations and refinancing. The firm seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.
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