Baker Avenue Asset Management LP Acquires 782 Shares of Main Street Capital Co. (NYSE:MAIN)

Baker Avenue Asset Management LP raised its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,777 shares of the financial services provider’s stock after purchasing an additional 782 shares during the period. Baker Avenue Asset Management LP’s holdings in Main Street Capital were worth $3,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Asset Planning Inc purchased a new stake in Main Street Capital in the fourth quarter worth $29,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Main Street Capital in the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $46,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Main Street Capital during the third quarter valued at about $50,000. Finally, AdvisorNet Financial Inc raised its stake in Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after buying an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analysts Set New Price Targets

MAIN has been the topic of a number of research analyst reports. Truist Financial upped their target price on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a report on Monday, March 3rd. UBS Group reduced their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.60.

Insider Activity

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Main Street Capital Stock Performance

Shares of MAIN opened at $53.73 on Monday. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.76 billion, a P/E ratio of 9.73 and a beta of 0.98. The business’s 50 day moving average price is $55.39 and its 200-day moving average price is $56.28.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The company had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Equities research analysts anticipate that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, May 9th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a dividend yield of 5.7%. Main Street Capital’s dividend payout ratio is presently 51.37%.

Main Street Capital Profile

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.