Baird Financial Group Inc. cut its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,939 shares of the financial services provider’s stock after selling 3,566 shares during the period. Baird Financial Group Inc.’s holdings in Main Street Capital were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of MAIN. Arrowstreet Capital Limited Partnership lifted its holdings in Main Street Capital by 627.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 196,471 shares of the financial services provider’s stock worth $7,806,000 after acquiring an additional 169,471 shares in the last quarter. CNO Financial Group Inc. bought a new stake in shares of Main Street Capital in the first quarter valued at about $5,166,000. Burgundy Asset Management Ltd. lifted its holdings in shares of Main Street Capital by 4.4% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,908,296 shares of the financial services provider’s stock valued at $75,817,000 after purchasing an additional 80,123 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Main Street Capital in the fourth quarter valued at about $2,381,000. Finally, Opus Capital Group LLC bought a new stake in shares of Main Street Capital in the first quarter valued at about $1,736,000. Hedge funds and other institutional investors own 25.25% of the company’s stock.
Shares of Main Street Capital opened at $37.90 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market capitalization of $2.26 billion, a PE ratio of 15.86 and a beta of 0.95. Main Street Capital Co. has a one year low of $34.37 and a one year high of $41.79.
Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $55.94 million for the quarter, compared to the consensus estimate of $53.54 million. Main Street Capital had a return on equity of 10.48% and a net margin of 81.24%. Main Street Capital’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. analysts predict that Main Street Capital Co. will post 2.47 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Tuesday, June 26th. Investors of record on Tuesday, June 19th were given a $0.275 dividend. The ex-dividend date of this dividend was Monday, June 18th. This is an increase from Main Street Capital’s previous dividend of $0.19. Main Street Capital’s payout ratio is currently 95.40%.
A number of analysts have recently commented on MAIN shares. Zacks Investment Research upgraded Main Street Capital from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Thursday, March 22nd. B. Riley started coverage on Main Street Capital in a report on Tuesday, March 27th. They issued a “buy” rating and a $40.00 price target on the stock. ValuEngine lowered Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Finally, National Securities restated a “neutral” rating and issued a $35.00 price target on shares of Main Street Capital in a report on Wednesday, May 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Main Street Capital has an average rating of “Hold” and a consensus price target of $39.33.
Main Street Capital Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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