Invesco Ltd. lowered its position in Main Street Capital Co. (NYSE:MAIN) by 10.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 119,797 shares of the financial services provider’s stock after selling 14,139 shares during the period. Invesco Ltd.’s holdings in Main Street Capital were worth $4,926,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new position in shares of Main Street Capital in the first quarter worth $30,000. Bartlett & Co. LLC bought a new position in shares of Main Street Capital in the second quarter worth $41,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Main Street Capital in the second quarter worth $86,000. Parkside Financial Bank & Trust increased its holdings in shares of Main Street Capital by 300,000.0% in the second quarter. Parkside Financial Bank & Trust now owns 3,001 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 3,000 shares during the period. Finally, Stelac Advisory Services LLC bought a new position in shares of Main Street Capital in the second quarter worth $138,000. 22.36% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. National Securities assumed coverage on shares of Main Street Capital in a research report on Monday, September 23rd. They issued a “neutral” rating and a $40.00 target price for the company. Finally, B. Riley set a $43.00 target price on shares of Main Street Capital and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Main Street Capital has an average rating of “Hold” and an average target price of $41.20.
Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.01. Main Street Capital had a net margin of 65.74% and a return on equity of 10.57%. The company had revenue of $61.30 million during the quarter, compared to analyst estimates of $61.33 million. During the same period in the previous year, the business earned $0.66 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Main Street Capital Co. will post 2.54 EPS for the current fiscal year.
The business also recently announced a dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.205 dividend. The ex-dividend date of this dividend is Thursday, October 17th. Main Street Capital’s dividend payout ratio (DPR) is presently 94.62%.
Main Street Capital Company Profile
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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