9,712 Shares of Main Street Capital Corporation $MAIN Bought by StoneX Group Inc.

StoneX Group Inc. bought a new stake in Main Street Capital Corporation (NYSE:MAIN) during the third quarter, HoldingsChannel reports. The firm bought 9,712 shares of the financial services provider’s stock, valued at approximately $549,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc bought a new stake in Main Street Capital during the second quarter worth about $43,323,000. Adell Harriman & Carpenter Inc. grew its stake in Main Street Capital by 1.3% in the first quarter. Adell Harriman & Carpenter Inc. now owns 484,584 shares of the financial services provider’s stock valued at $25,664,000 after purchasing an additional 6,149 shares in the last quarter. BlackRock Inc. bought a new position in Main Street Capital in the second quarter valued at approximately $20,940,000. Tectonic Advisors LLC increased its position in shares of Main Street Capital by 9.6% during the 3rd quarter. Tectonic Advisors LLC now owns 159,437 shares of the financial services provider’s stock worth $8,777,000 after purchasing an additional 13,992 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Main Street Capital by 1.1% during the 1st quarter. Royal Bank of Canada now owns 151,196 shares of the financial services provider’s stock worth $8,007,000 after purchasing an additional 1,713 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAIN. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Wells Fargo & Company lowered their target price on shares of Main Street Capital from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.17.

Main Street Capital Stock Performance

NYSE MAIN opened at $56.64 on Thursday. The firm has a 50-day moving average of $55.45 and a 200-day moving average of $55.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.06. The stock has a market cap of $5.32 billion, a PE ratio of 14.74 and a beta of 0.73. Main Street Capital Corporation has a 52-week low of $48.95 and a 52-week high of $65.23.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.03). Main Street Capital had a net margin of 76.98% and a return on equity of 11.45%. The company had revenue of $142.53 million during the quarter, compared to analyst estimates of $145.67 million. On average, sell-side analysts anticipate that Main Street Capital Corporation will post 3.74 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 15th. Shareholders of record on Monday, March 8th will be given a dividend of $0.27 per share. The ex-dividend date is Monday, March 8th. This represents a $3.24 annualized dividend and a yield of 5.7%. Main Street Capital’s dividend payout ratio (DPR) is 65.84%.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. It focuses on lower middle market companies and also invests in debt securities issued by middle market businesses. The company’s financing can support business growth, acquisitions, recapitalizations, and management buyouts. Main Street generally works directly with portfolio companies and their owners, offering capital structures tailored to each business’s needs.