California Public Employees Retirement System lowered its holdings in Main Street Capital Co. (NYSE:MAIN) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,945 shares of the financial services provider’s stock after selling 9,838 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Main Street Capital worth $4,463,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MAIN. Goldman Sachs Group Inc. increased its holdings in Main Street Capital by 68.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 51,997 shares of the financial services provider’s stock worth $2,066,000 after acquiring an additional 21,139 shares during the period. Sapphire Star Partners LP bought a new stake in Main Street Capital during the 4th quarter worth approximately $544,000. BlackRock Inc. increased its holdings in Main Street Capital by 7.8% during the 4th quarter. BlackRock Inc. now owns 338,702 shares of the financial services provider’s stock worth $13,457,000 after acquiring an additional 24,620 shares during the period. Clearbridge LLC increased its holdings in Main Street Capital by 10.4% during the 4th quarter. Clearbridge LLC now owns 260,301 shares of the financial services provider’s stock worth $10,342,000 after acquiring an additional 24,526 shares during the period. Finally, Advisor Group Inc. increased its holdings in Main Street Capital by 6.5% during the 4th quarter. Advisor Group Inc. now owns 52,277 shares of the financial services provider’s stock worth $2,076,000 after acquiring an additional 3,171 shares during the period. 25.25% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Friday, May 11th. National Securities reaffirmed a “neutral” rating and set a $35.00 target price on shares of Main Street Capital in a report on Wednesday, May 9th. ValuEngine lowered shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Finally, B. Riley started coverage on shares of Main Street Capital in a report on Tuesday, March 27th. They set a “buy” rating and a $40.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Main Street Capital has a consensus rating of “Hold” and an average price target of $39.33.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The firm had revenue of $55.94 million for the quarter, compared to analyst estimates of $53.54 million. Main Street Capital had a net margin of 81.24% and a return on equity of 10.48%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. research analysts expect that Main Street Capital Co. will post 2.47 EPS for the current fiscal year.
The business also recently declared a dividend, which was paid on Tuesday, June 26th. Stockholders of record on Tuesday, June 19th were issued a $0.275 dividend. This is a positive change from Main Street Capital’s previous dividend of $0.19. The ex-dividend date was Monday, June 18th. Main Street Capital’s dividend payout ratio is presently 95.40%.
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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