Nomura Asset Management Co. Ltd. cut its position in shares of Main Street Capital Corporation (NYSE:MAIN – Free Report) by 87.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,610 shares of the financial services provider’s stock after selling 11,165 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Main Street Capital were worth $97,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAIN. Brighton Jones LLC acquired a new position in Main Street Capital in the 4th quarter worth approximately $304,000. NewEdge Advisors LLC boosted its stake in Main Street Capital by 5,416.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,625 shares during the period. Guggenheim Capital LLC boosted its stake in Main Street Capital by 4.8% in the 2nd quarter. Guggenheim Capital LLC now owns 12,492 shares of the financial services provider’s stock worth $738,000 after purchasing an additional 570 shares during the period. First Trust Advisors LP boosted its stake in Main Street Capital by 2.3% in the 2nd quarter. First Trust Advisors LP now owns 188,296 shares of the financial services provider’s stock worth $11,128,000 after purchasing an additional 4,317 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Main Street Capital during the second quarter valued at $228,000. Institutional investors and hedge funds own 20.31% of the company’s stock.
Main Street Capital Stock Down 0.4%
MAIN stock opened at $51.80 on Friday. Main Street Capital Corporation has a 12-month low of $48.95 and a 12-month high of $67.77. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.82 billion, a price-to-earnings ratio of 10.90 and a beta of 0.72. The company has a 50 day moving average of $53.01 and a two-hundred day moving average of $57.33.
Main Street Capital Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 6.1%. Main Street Capital’s dividend payout ratio is presently 65.68%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MAIN. Truist Financial lowered their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Zacks Research downgraded Main Street Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Royal Bank Of Canada dropped their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $59.14.
View Our Latest Research Report on Main Street Capital
Main Street Capital Company Profile
Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.
Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.
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