Baker Avenue Asset Management LP Purchases 782 Shares of Main Street Capital Co. (NYSE:MAIN)

Baker Avenue Asset Management LP boosted its position in Main Street Capital Co. (NYSE:MAIN) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 58,777 shares of the financial services provider’s stock after acquiring an additional 782 shares during the period. Baker Avenue Asset Management LP owned 0.07% of Main Street Capital worth $3,443,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its position in shares of Main Street Capital by 2.9% in the fourth quarter. Benjamin Edwards Inc. now owns 145,312 shares of the financial services provider’s stock valued at $8,512,000 after purchasing an additional 4,147 shares during the period. BIP Wealth LLC bought a new stake in Main Street Capital during the 4th quarter valued at $205,000. BNP Paribas Financial Markets lifted its position in shares of Main Street Capital by 108.4% during the fourth quarter. BNP Paribas Financial Markets now owns 57,773 shares of the financial services provider’s stock worth $3,384,000 after acquiring an additional 30,046 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Main Street Capital by 2.0% in the fourth quarter. Ameriprise Financial Inc. now owns 119,193 shares of the financial services provider’s stock worth $6,982,000 after acquiring an additional 2,394 shares during the period. Finally, AXA S.A. purchased a new position in shares of Main Street Capital in the fourth quarter valued at $487,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

Shares of MAIN opened at $53.73 on Monday. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.76 billion, a PE ratio of 9.73 and a beta of 0.98. The stock has a 50-day moving average price of $55.39 and a 200-day moving average price of $56.28.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). The company had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, equities analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.25 per share. This represents a yield of 5.7%. The ex-dividend date is Thursday, May 8th. Main Street Capital’s dividend payout ratio (DPR) is currently 51.37%.

Insider Transactions at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group cut their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Truist Financial raised their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.60.

About Main Street Capital

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.