Main Street Capital Corporation $MAIN Position Reduced by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC reduced its position in Main Street Capital Corporation (NYSE:MAIN) by 47.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,454 shares of the financial services provider’s stock after selling 3,116 shares during the quarter. Strategic Financial Concepts LLC’s holdings in Main Street Capital were worth $204,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares during the period. Invesco Ltd. boosted its position in shares of Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after buying an additional 393,101 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Main Street Capital during the first quarter valued at $6,205,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Main Street Capital during the first quarter valued at $4,840,000. Finally, Muzinich & Co. Inc. raised its position in Main Street Capital by 28.2% during the second quarter. Muzinich & Co. Inc. now owns 316,808 shares of the financial services provider’s stock valued at $18,723,000 after buying an additional 69,701 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

NYSE MAIN opened at $57.01 on Monday. The company has a 50 day moving average price of $62.29 and a two-hundred day moving average price of $60.36. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77. The stock has a market capitalization of $5.10 billion, a PE ratio of 9.39 and a beta of 0.87. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. As a group, equities analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MAIN has been the subject of a number of research reports. Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. B. Riley raised their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Main Street Capital in a research report on Tuesday, October 14th. Zacks Research cut shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.40.

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.