Belpointe Asset Management LLC bought a new stake in Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 19,060 shares of the financial services provider’s stock, valued at approximately $821,000.
A number of other institutional investors have also recently modified their holdings of MAIN. Marshall Wace North America L.P. bought a new stake in Main Street Capital during the 1st quarter worth approximately $30,000. RDA Financial Network increased its holdings in Main Street Capital by 23.2% during the 3rd quarter. RDA Financial Network now owns 11,964 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 2,254 shares in the last quarter. Virtu Financial LLC bought a new stake in Main Street Capital during the 3rd quarter worth approximately $365,000. EP Wealth Advisors LLC bought a new stake in Main Street Capital during the 3rd quarter worth approximately $274,000. Finally, Sound Income Strategies LLC increased its holdings in Main Street Capital by 9.5% during the 4th quarter. Sound Income Strategies LLC now owns 704,403 shares of the financial services provider’s stock worth $30,367,000 after purchasing an additional 60,993 shares in the last quarter. 21.91% of the stock is owned by institutional investors and hedge funds.
In other news, COO Jesse E. Morris acquired 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $38.39 per share, for a total transaction of $49,907.00. Following the completion of the purchase, the chief operating officer now owns 39,669 shares in the company, valued at $1,522,892.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dwayne L. Hyzak acquired 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average price of $15.13 per share, for a total transaction of $25,721.00. Following the purchase, the chief executive officer now owns 364,741 shares of the company’s stock, valued at approximately $5,518,531.33. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 9,850 shares of company stock valued at $192,753. 5.43% of the stock is currently owned by corporate insiders.
MAIN stock opened at $19.64 on Thursday. The firm has a market cap of $1.17 billion, a PE ratio of 9.49 and a beta of 0.85. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $35.95 and a 200-day moving average of $41.33. Main Street Capital Co. has a 12-month low of $14.11 and a 12-month high of $45.10.
Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $60.50 million during the quarter, compared to analyst estimates of $59.45 million. Main Street Capital had a return on equity of 10.30% and a net margin of 53.24%. Main Street Capital’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. On average, research analysts expect that Main Street Capital Co. will post 2.43 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th will be issued a $0.205 dividend. This represents a $2.46 annualized dividend and a dividend yield of 12.53%. The ex-dividend date of this dividend is Tuesday, May 19th. Main Street Capital’s dividend payout ratio is presently 98.40%.
A number of brokerages have commented on MAIN. ValuEngine raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Zacks Investment Research raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, National Securities raised Main Street Capital from a “neutral” rating to a “buy” rating in a report on Tuesday, March 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $43.50.
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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