Brevan Howard Capital Management LP Makes New $564,000 Investment in Main Street Capital Co. (NYSE:MAIN)

Brevan Howard Capital Management LP acquired a new stake in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,621 shares of the financial services provider’s stock, valued at approximately $564,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its stake in shares of Main Street Capital by 8.4% during the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock valued at $151,000 after buying an additional 200 shares during the last quarter. PFG Investments LLC lifted its position in shares of Main Street Capital by 1.6% during the fourth quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 219 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Main Street Capital by 6.9% in the fourth quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 228 shares during the last quarter. Wedbush Securities Inc. increased its stake in Main Street Capital by 6.2% in the 4th quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider’s stock worth $269,000 after buying an additional 266 shares during the period. Finally, Marble Harbor Investment Counsel LLC lifted its holdings in Main Street Capital by 4.8% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 6,285 shares of the financial services provider’s stock valued at $368,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Truist Financial upped their target price on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a 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. According to MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and a consensus price target of $52.60.

Insiders Place Their Bets

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

Main Street Capital Stock Down 0.4 %

Shares of NYSE MAIN opened at $52.82 on Friday. The stock has a market capitalization of $4.68 billion, a PE ratio of 9.57 and a beta of 0.86. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The stock’s fifty day simple moving average is $54.72 and its two-hundred day simple moving average is $56.26.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The business had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. As a group, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.255 dividend. This represents a $3.06 annualized dividend and a yield of 5.79%. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Monday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is 51.37%.

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.