Invesco Ltd. lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 10.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 119,797 shares of the financial services provider’s stock after selling 14,139 shares during the period. Invesco Ltd. owned approximately 0.19% of Main Street Capital worth $4,926,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its stake in Main Street Capital by 74.5% during the 2nd quarter. Private Advisor Group LLC now owns 35,494 shares of the financial services provider’s stock valued at $1,459,000 after purchasing an additional 15,157 shares during the last quarter. Virtus ETF Advisers LLC acquired a new position in Main Street Capital during the 2nd quarter valued at about $2,576,000. HighTower Advisors LLC boosted its stake in Main Street Capital by 1.7% during the 2nd quarter. HighTower Advisors LLC now owns 164,902 shares of the financial services provider’s stock valued at $6,788,000 after purchasing an additional 2,818 shares during the last quarter. United Capital Financial Advisers LLC acquired a new position in Main Street Capital during the 2nd quarter valued at about $255,000. Finally, Aptus Capital Advisors LLC boosted its stake in Main Street Capital by 18.6% during the 2nd quarter. Aptus Capital Advisors LLC now owns 20,169 shares of the financial services provider’s stock valued at $829,000 after purchasing an additional 3,159 shares during the last quarter. Institutional investors and hedge funds own 22.36% of the company’s stock.
MAIN has been the subject of a number of analyst reports. B. Riley set a $43.00 price target on Main Street Capital and gave the company a “buy” rating in a research note on Tuesday, August 20th. Zacks Investment Research downgraded Main Street Capital from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, National Securities initiated coverage on Main Street Capital in a research note on Monday, September 23rd. They set a “neutral” rating and a $40.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Main Street Capital presently has a consensus rating of “Hold” and a consensus price target of $41.20.
Shares of NYSE MAIN opened at $42.07 on Friday. Main Street Capital Co. has a twelve month low of $31.95 and a twelve month high of $44.35. The stock’s 50 day moving average price is $43.17 and its 200-day moving average price is $41.15. The company has a market capitalization of $2.65 billion, a PE ratio of 16.22 and a beta of 0.80. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.21.
Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. Main Street Capital had a return on equity of 10.57% and a net margin of 65.74%. The firm had revenue of $61.30 million for the quarter, compared to the consensus estimate of $61.33 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Main Street Capital Co. will post 2.54 EPS for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.205 dividend. The ex-dividend date is Thursday, October 17th. Main Street Capital’s payout ratio is presently 94.62%.
About Main Street Capital
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.
Featured Story: What are Closed-End Mutual Funds?
Receive News & Ratings for Main Street Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Main Street Capital and related companies with MarketBeat.com's FREE daily email newsletter.