Steward Partners Investment Advisory LLC reduced its stake in Main Street Capital Co. (NYSE: MAIN – Get Rating) by 13.8% in the first quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The company held 4,415 shares of the financial services provider after selling 708 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Main Street Capital were worth $188,000 when it last filed with the SEC.
Other hedge funds have also recently been buying and selling shares of the company. Versant Capital Management Inc bought a new stake in Main Street Capital in Q1 for $38,000. Hexagon Capital Partners LLC purchased a new stock position in Main Street Capital during Q1 for approximately $47,000. National Bank of Canada FI bought a new position in shares of Main Street Capital during the 4th quarter for a value of approximately $67,000. CWM LLC purchased a new stock position in Main Street Capital during Q4 for a value of approximately $70,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings of Main Street Capital shares by 195.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,570 shares of the financial services provider worth $70,000 after acquiring 1,038 additional shares during the period. 17.21% of the shares are held by institutional investors.
Main Street Capital Trading up 0.9%
Main Street Capital shares opened at $45.02 on Monday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 9.26, a price-to-earnings growth ratio of 1.83 and a beta of 1.24. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt ratio of 0.18. The company has a 50-day simple moving average of $39.09 and a 200-day simple moving average of $40.81. Main Street Capital Co. has a 12-month low of $34.35 and a 12-month high of $47.13.
Main Street Capital (NYSE:MAIN – Get Rating) last announced its results on Thursday, May 5. The financial services provider reported earnings per share (EPS) of $0.73 for the quarter, beating analyst consensus estimates of $0.70 by $0.03. The company posted revenue of $79.40 million in the quarter, compared to $82.59 million expected by analysts. Main Street Capital had a net margin of 110.79% and a return on equity of 11.40%. During the same quarter last year, the company posted EPS of $0.58. Research analysts expect Main Street Capital Co. to post earnings per share of 2.89 for the current fiscal year.
Main Street Capital Announces Dividend
The company also recently disclosed a dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 22 received a dividend of $0.075. The ex-dividend date was Tuesday, June 21. Main Street Capital’s payout ratio is currently 53.09%.
Analysts set new price targets
MAIN has been the subject of several analyst reports. The Hovde Group cut its price target on Main Street Capital shares to $37.00 in a Friday, May 20 report. TheStreet upgraded shares of Main Street Capital from a “c+” rating to a “b-” rating in a Tuesday, July 19 report. Four investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average price target of $42.80.
About Main Street Capital
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Main Street Capital Corporation is a business development firm specializing in equity capital for lower middle market businesses. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature and subsequent emerging growth.
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