Griffin Asset Management Inc. lowered its position in Main Street Capital Co. (NYSE:MAIN) by 59.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,990 shares of the financial services provider’s stock after selling 13,400 shares during the quarter. Griffin Asset Management Inc.’s holdings in Main Street Capital were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC boosted its holdings in Main Street Capital by 1.7% in the first quarter. MML Investors Services LLC now owns 20,111 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 334 shares during the last quarter. Rikoon Group LLC boosted its holdings in Main Street Capital by 1.3% in the second quarter. Rikoon Group LLC now owns 32,268 shares of the financial services provider’s stock valued at $1,333,000 after acquiring an additional 400 shares during the last quarter. Verity Asset Management Inc. boosted its holdings in Main Street Capital by 4.6% in the second quarter. Verity Asset Management Inc. now owns 10,180 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 450 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its holdings in Main Street Capital by 1.1% in the second quarter. Hamilton Point Investment Advisors LLC now owns 54,736 shares of the financial services provider’s stock valued at $2,262,000 after acquiring an additional 620 shares during the last quarter. Finally, Prestige Wealth Management Group LLC bought a new stake in Main Street Capital in the second quarter valued at approximately $27,000. 22.36% of the stock is owned by institutional investors.
Several brokerages recently commented on MAIN. National Securities began coverage on Main Street Capital in a report on Monday, September 23rd. They issued a “neutral” rating and a $40.00 target price on the stock. B. Riley set a $43.00 target price on Main Street Capital and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Zacks Investment Research cut Main Street Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Main Street Capital has an average rating of “Hold” and an average target price of $41.20.
Shares of Main Street Capital stock traded down $0.01 on Monday, reaching $43.32. 61,009 shares of the company’s stock were exchanged, compared to its average volume of 247,026. The company has a market capitalization of $2.75 billion, a P/E ratio of 16.66 and a beta of 0.82. Main Street Capital Co. has a 52 week low of $31.95 and a 52 week high of $44.35. The firm’s 50-day moving average is $43.30 and its two-hundred day moving average is $40.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15.
Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The firm had revenue of $61.30 million for the quarter, compared to analysts’ expectations of $61.33 million. Main Street Capital had a return on equity of 10.57% and a net margin of 65.74%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, analysts expect that Main Street Capital Co. will post 2.54 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.205 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Wednesday, September 18th. Main Street Capital’s payout ratio is 94.62%.
Main Street Capital Company 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.
Further Reading: Moving Average (MA)
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