Friedberg Investment Management reduced its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 85.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,413 shares of the financial services provider’s stock after selling 139,495 shares during the quarter. Main Street Capital comprises about 1.5% of Friedberg Investment Management’s portfolio, making the stock its 27th biggest position. Friedberg Investment Management’s holdings in Main Street Capital were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the business. Creative Planning increased its stake in Main Street Capital by 19.5% in the 2nd quarter. Creative Planning now owns 17,595 shares of the financial services provider’s stock valued at $677,000 after buying an additional 2,877 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Main Street Capital during the 2nd quarter worth about $204,000. US Bancorp DE boosted its holdings in Main Street Capital by 15.6% in the 2nd quarter. US Bancorp DE now owns 3,707 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 500 shares during the period. Accurate Investment Solutions Inc. boosted its holdings in Main Street Capital by 2.2% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 99,267 shares of the financial services provider’s stock valued at $3,818,000 after purchasing an additional 2,177 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Main Street Capital by 23.7% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 169,538 shares of the financial services provider’s stock valued at $6,520,000 after purchasing an additional 32,453 shares during the period. 27.23% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on MAIN. Zacks Investment Research upgraded shares of Main Street Capital from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Thursday, August 10th. National Securities reaffirmed a “sell” rating and issued a $33.00 price objective on shares of Main Street Capital in a research note on Monday, November 6th. ValuEngine raised shares of Main Street Capital from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub downgraded shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Raymond James Financial upgraded shares of Main Street Capital from an “underperform” rating to a “market perform” rating in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.15.
Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $51.79 million for the quarter, compared to the consensus estimate of $50.89 million. Main Street Capital had a net margin of 79.87% and a return on equity of 10.14%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. analysts anticipate that Main Street Capital Co. will post 2.33 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be issued a dividend of $0.19 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date of this dividend is Thursday, January 18th. Main Street Capital’s dividend payout ratio (DPR) is presently 80.28%.
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Main Street Capital Profile
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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