Main Street Capital Co. (NYSE:MAIN) Position Increased by Verity Asset Management Inc.

Verity Asset Management Inc. grew its position in Main Street Capital Co. (NYSE:MAIN) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,065 shares of the financial services provider’s stock after buying an additional 400 shares during the quarter. Verity Asset Management Inc.’s holdings in Main Street Capital were worth $240,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Main Street Capital by 2.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after purchasing an additional 71,698 shares during the last quarter. Burgundy Asset Management Ltd. raised its stake in shares of Main Street Capital by 1.4% in the 1st quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock valued at $51,528,000 after acquiring an additional 15,392 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Main Street Capital by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after purchasing an additional 122,757 shares during the last quarter. Sound Income Strategies LLC boosted its position in Main Street Capital by 2.2% during the first quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock worth $17,021,000 after purchasing an additional 7,790 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its holdings in Main Street Capital by 13.1% during the first quarter. Adell Harriman & Carpenter Inc. now owns 319,215 shares of the financial services provider’s stock valued at $15,102,000 after purchasing an additional 37,075 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MAIN shares. B. Riley raised their target price on shares of Main Street Capital from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Truist Financial increased their target price on Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada lifted their price target on Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.20.

Main Street Capital Stock Performance

Shares of MAIN stock traded down $1.84 during mid-day trading on Friday, reaching $49.32. The stock had a trading volume of 957,412 shares, compared to its average volume of 342,001. Main Street Capital Co. has a one year low of $37.70 and a one year high of $52.39. The firm has a market cap of $4.23 billion, a PE ratio of 9.00 and a beta of 1.29. The firm’s 50 day simple moving average is $50.17 and its 200 day simple moving average is $47.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 9th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Main Street Capital had a return on equity of 14.83% and a net margin of 89.11%. The firm had revenue of $131.61 million during the quarter, compared to analysts’ expectations of $128.00 million. During the same period last year, the business earned $1.02 earnings per share. On average, analysts forecast that Main Street Capital Co. will post 4.08 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 24th were paid a dividend of $0.30 per share. This represents a yield of 7.55%. The ex-dividend date was Friday, June 21st. Main Street Capital’s dividend payout ratio is 53.65%.

Main Street Capital Company 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.