Castle Rock Wealth Management LLC grew its position in Main Street Capital Co. (NYSE:MAIN) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,694 shares of the financial services provider’s stock after purchasing an additional 1,207 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Main Street Capital were worth $441,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of MAIN. Sound Income Strategies LLC grew its position in Main Street Capital by 31.1% during the 2nd quarter. Sound Income Strategies LLC now owns 581,294 shares of the financial services provider’s stock worth $23,903,000 after purchasing an additional 137,932 shares during the last quarter. Van ECK Associates Corp lifted its position in Main Street Capital by 6.5% during the 2nd quarter. Van ECK Associates Corp now owns 426,177 shares of the financial services provider’s stock worth $17,524,000 after acquiring an additional 25,968 shares in the last quarter. Clearbridge Investments LLC lifted its position in Main Street Capital by 5.0% during the 1st quarter. Clearbridge Investments LLC now owns 311,439 shares of the financial services provider’s stock worth $11,586,000 after acquiring an additional 14,873 shares in the last quarter. Brasada Capital Management LP lifted its position in Main Street Capital by 3.0% during the 2nd quarter. Brasada Capital Management LP now owns 155,539 shares of the financial services provider’s stock worth $6,436,000 after acquiring an additional 4,568 shares in the last quarter. Finally, Accurate Investment Solutions Inc. lifted its position in Main Street Capital by 2.0% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 112,771 shares of the financial services provider’s stock worth $4,637,000 after acquiring an additional 2,168 shares in the last quarter. 22.42% of the stock is currently owned by institutional investors.
MAIN has been the topic of a number of recent analyst reports. B. Riley set a $43.00 target price on Main Street Capital and gave the company a “buy” rating in a research report on Tuesday, August 20th. Zacks Investment Research lowered Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Main Street Capital presently has an average rating of “Hold” and a consensus target price of $40.80.
Shares of MAIN stock traded up $0.12 on Friday, hitting $43.30. 1,266 shares of the stock traded hands, compared to its average volume of 226,727. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.15 and a quick ratio of 0.15. The company has a market capitalization of $2.73 billion, a PE ratio of 16.66 and a beta of 0.82. Main Street Capital Co. has a 1-year low of $31.95 and a 1-year high of $44.30. The company’s fifty day moving average is $42.81 and its 200 day moving average is $40.45.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The company had revenue of $61.30 million during 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 quarter in the prior year, the business posted $0.66 earnings per share. As a group, equities research analysts expect that Main Street Capital Co. will post 2.54 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $2.46 dividend on an annualized basis and a yield of 5.68%. Main Street Capital’s payout ratio is 94.62%.
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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