Royal Bank of Canada lifted its position in shares of Main Street Capital Co. (NYSE:MAIN) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,101 shares of the financial services provider’s stock after buying an additional 5,925 shares during the period. Royal Bank of Canada owned about 0.20% of Main Street Capital worth $5,308,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MAIN. DNB Asset Management AS grew its position in Main Street Capital by 112.3% during the 2nd quarter. DNB Asset Management AS now owns 53,112 shares of the financial services provider’s stock worth $2,184,000 after acquiring an additional 28,100 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Main Street Capital during the 2nd quarter worth approximately $138,000. Cetera Advisor Networks LLC grew its position in Main Street Capital by 3.8% during the 2nd quarter. Cetera Advisor Networks LLC now owns 18,492 shares of the financial services provider’s stock worth $758,000 after acquiring an additional 683 shares during the last quarter. Clearbridge Investments LLC grew 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 during the last quarter. Finally, Bank of Montreal Can grew its position in Main Street Capital by 15.1% during the 2nd quarter. Bank of Montreal Can now owns 612,320 shares of the financial services provider’s stock worth $25,179,000 after acquiring an additional 80,304 shares during the last quarter. 22.36% of the stock is currently owned by institutional investors.
Shares of MAIN stock opened at $42.07 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 16.22 and a beta of 0.80. Main Street Capital Co. has a fifty-two week low of $31.95 and a fifty-two week high of $44.35. The business’s 50 day moving average price is $43.17 and its 200-day moving average price is $41.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.15 and a current ratio of 0.15.
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 for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $61.30 million for the quarter, compared to analyst estimates of $61.33 million. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Main Street Capital Co. will post 2.54 EPS for the current year.
The company also recently declared a dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, October 17th. Main Street Capital’s dividend payout ratio is presently 94.62%.
A number of equities research analysts have recently weighed in on MAIN shares. Zacks Investment Research lowered Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley set a $43.00 price objective on Main Street Capital and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, National Securities started coverage on Main Street Capital in a research report on Monday, September 23rd. They issued a “neutral” rating and a $40.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.20.
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.
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