Arete Wealth Advisors LLC Has $961,000 Stake in Main Street Capital Co. (NYSE:MAIN)

Arete Wealth Advisors LLC raised its position in Main Street Capital Co. (NYSE:MAIN) by 16.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,410 shares of the financial services provider’s stock after purchasing an additional 2,317 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Main Street Capital were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Main Street Capital during the fourth quarter worth about $10,460,000. Morgan Dempsey Capital Management LLC bought a new position in shares of Main Street Capital during the 4th quarter worth approximately $6,007,000. Van ECK Associates Corp increased its holdings in shares of Main Street Capital by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after acquiring an additional 92,833 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Main Street Capital in the 4th quarter valued at $2,626,000. Finally, Advisors Asset Management Inc. lifted its holdings in Main Street Capital by 69.6% during the 4th quarter. Advisors Asset Management Inc. now owns 102,705 shares of the financial services provider’s stock valued at $6,016,000 after purchasing an additional 42,157 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Insider Buying and Selling

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Main Street Capital Stock Performance

MAIN opened at $51.55 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The business has a fifty day simple moving average of $59.18 and a 200 day simple moving average of $55.91. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a market capitalization of $4.57 billion, a PE ratio of 9.34 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Research analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 21st were paid a $0.30 dividend. This is a boost from Main Street Capital’s previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date was Thursday, March 20th. Main Street Capital’s payout ratio is 51.37%.

Analysts Set New Price Targets

Separately, Truist Financial increased their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.