Magnetar Financial LLC bought a new stake in shares of Main Street Capital Co. (NYSE:MAIN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,561 shares of the financial services provider’s stock, valued at approximately $1,056,000.
Several other hedge funds have also recently made changes to their positions in MAIN. Invictus RG purchased a new position in Main Street Capital during the third quarter worth approximately $718,000. Pinebridge Investments L.P. lifted its position in shares of Main Street Capital by 77.0% in the third quarter. Pinebridge Investments L.P. now owns 24,962 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 10,862 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Main Street Capital by 59.1% in the third quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 1,727 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Main Street Capital by 11.9% in the third quarter. Legal & General Group Plc now owns 165,356 shares of the financial services provider’s stock valued at $6,569,000 after acquiring an additional 17,530 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Main Street Capital by 5.8% in the third quarter. Van ECK Associates Corp now owns 403,372 shares of the financial services provider’s stock valued at $16,034,000 after acquiring an additional 21,957 shares in the last quarter. 27.05% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on MAIN shares. National Securities reaffirmed a “sell” rating and issued a $33.00 price target on shares of Main Street Capital in a report on Monday, November 6th. Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, November 8th. BidaskClub raised Main Street Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Raymond James Financial upgraded Main Street Capital from an “underperform” rating to a “market perform” rating in a research report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Main Street Capital currently has a consensus rating of “Hold” and an average target price of $39.15.
Shares of Main Street Capital Co. (NYSE:MAIN) traded down $0.30 during midday trading on Monday, reaching $39.73. The company’s stock had a trading volume of 254,400 shares, compared to its average volume of 233,594. The stock has a market cap of $2,270.00, a P/E ratio of 14.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.10 and a quick ratio of 0.10. Main Street Capital Co. has a 12 month low of $35.25 and a 12 month high of $41.79.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. Main Street Capital had a return on equity of 10.14% and a net margin of 79.87%. The business had revenue of $51.79 million for the quarter, compared to analysts’ expectations of $50.89 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. equities analysts anticipate that Main Street Capital Co. will post 2.33 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be given a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 5.74%. The ex-dividend date is Thursday, January 18th. Main Street Capital’s dividend payout ratio (DPR) is presently 80.57%.
About Main Street Capital
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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