Brevan Howard Capital Management LP Purchases New Position in Main Street Capital Co. (NYSE:MAIN)

Brevan Howard Capital Management LP acquired a new stake in Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,621 shares of the financial services provider’s stock, valued at approximately $564,000.

Several other institutional investors have also added to or reduced their stakes in the business. Asset Planning Inc purchased a new position in shares of Main Street Capital during the fourth quarter valued at approximately $29,000. Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital during the 4th quarter valued at $45,000. Colonial Trust Advisors bought a new position in shares of Main Street Capital during the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Main Street Capital in the 3rd quarter worth $50,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 729 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

Shares of MAIN opened at $52.82 on Friday. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 9.57 and a beta of 0.86. The business has a 50-day simple moving average of $54.72 and a two-hundred day simple moving average of $56.26.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $137.05 million for the quarter, compared to analysts’ expectations of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio is presently 51.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAIN shares. UBS Group lowered their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Truist Financial raised their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $52.60.

Insider Buying and Selling at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital 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 $23,357,636.55. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was 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 position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Main Street Capital Profile

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.