Confluence Investment Management LLC Takes $6.11 Million Position in Main Street Capital Co. (NYSE:MAIN)

Confluence Investment Management LLC bought a new stake in shares of Main Street Capital Co. (NYSE:MAIN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 129,143 shares of the financial services provider’s stock, valued at approximately $6,110,000. Confluence Investment Management LLC owned approximately 0.15% of Main Street Capital at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Main Street Capital by 73.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 483 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in Main Street Capital during the 4th quarter worth $72,000. Signaturefd LLC grew its holdings in shares of Main Street Capital by 41.5% during the fourth quarter. Signaturefd LLC now owns 1,726 shares of the financial services provider’s stock worth $75,000 after buying an additional 506 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Main Street Capital by 32.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,733 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 420 shares during the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

Shares of MAIN opened at $49.73 on Wednesday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Main Street Capital Co. has a fifty-two week low of $37.70 and a fifty-two week high of $51.10. The company has a market cap of $4.26 billion, a P/E ratio of 9.07 and a beta of 1.28. The firm’s 50 day moving average price is $48.87 and its 200 day moving average price is $46.21.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. Main Street Capital had a return on equity of 14.83% and a net margin of 89.11%. The business had revenue of $131.61 million for the quarter, compared to analysts’ expectations of $128.00 million. During the same period last year, the firm earned $1.02 earnings per share. On average, research analysts forecast that Main Street Capital Co. will post 4.06 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 24th will be given a $0.30 dividend. This represents a dividend yield of 7.58%. The ex-dividend date of this dividend is Friday, June 21st. Main Street Capital’s dividend payout ratio is presently 52.55%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial lifted their price target on Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, May 13th. B. Riley increased their price target on shares of Main Street Capital from $47.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. UBS Group lifted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Oppenheimer increased their price objective on Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada raised their target price on Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and an average target price of $47.67.

Main Street Capital Company 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.