Commonwealth Equity Services LLC lowered its position in shares of Main Street Capital Co. (NYSE:MAIN) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,175 shares of the financial services provider’s stock after selling 38,462 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Main Street Capital were worth $1,764,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MAIN. Clearbridge Investments LLC increased its position in shares of Main Street Capital by 969,029.0% during the 3rd quarter. Clearbridge Investments LLC now owns 300,430 shares of the financial services provider’s stock worth $11,567,000 after purchasing an additional 300,399 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Main Street Capital during the 4th quarter worth about $4,862,000. Envestnet Asset Management Inc. acquired a new stake in shares of Main Street Capital during the 3rd quarter worth about $3,122,000. Wambolt & Associates LLC acquired a new stake in shares of Main Street Capital during the 4th quarter worth about $2,459,000. Finally, Morgan Stanley increased its position in shares of Main Street Capital by 29.3% during the 3rd quarter. Morgan Stanley now owns 212,861 shares of the financial services provider’s stock worth $8,195,000 after purchasing an additional 48,252 shares in the last quarter. Institutional investors and hedge funds own 23.29% of the company’s stock.
MAIN opened at $38.25 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.71 and a beta of 0.96. Main Street Capital Co. has a 1-year low of $31.95 and a 1-year high of $40.77.
MAIN has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, December 6th. National Securities reiterated a “neutral” rating and set a $38.00 target price on shares of Main Street Capital in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.50.
About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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