Quest Partners LLC Invests $1.34 Million in Main Street Capital Co. (NYSE:MAIN)

Quest Partners LLC purchased a new stake in Main Street Capital Co. (NYSE:MAIN) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,545 shares of the financial services provider’s stock, valued at approximately $1,340,000.

Several other large investors have also recently bought and sold shares of MAIN. Corient Private Wealth LLC boosted its position in shares of Main Street Capital by 226.1% in the fourth quarter. Corient Private Wealth LLC now owns 29,996 shares of the financial services provider’s stock valued at $1,297,000 after acquiring an additional 20,799 shares during the period. First Financial Bankshares Inc acquired a new position in shares of Main Street Capital during the 4th quarter worth approximately $6,122,000. Marietta Wealth Management LLC bought a new position in shares of Main Street Capital during the second quarter worth approximately $581,000. Freestone Capital Holdings LLC bought a new stake in shares of Main Street Capital in the first quarter valued at approximately $568,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Main Street Capital during the fourth quarter worth approximately $273,000. 20.31% of the stock is owned by institutional investors.

Main Street Capital Price Performance

Shares of MAIN opened at $48.75 on Tuesday. The business has a 50-day simple moving average of $50.08 and a two-hundred day simple moving average of $48.73. Main Street Capital Co. has a 12-month low of $37.70 and a 12-month high of $52.39. The stock has a market cap of $4.24 billion, a PE ratio of 8.90 and a beta of 1.30. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.41%. The firm had revenue of $132.15 million during the quarter, compared to analysts’ expectations of $132.62 million. During the same period in the prior year, the company posted $1.06 EPS. Analysts anticipate that Main Street Capital Co. will post 4.13 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, October 8th. This represents a $3.60 dividend on an annualized basis and a yield of 7.38%. Main Street Capital’s dividend payout ratio (DPR) is currently 53.65%.

Wall Street Analyst Weigh In

MAIN has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Oppenheimer upped their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. B. Riley lifted their price objective 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. Finally, Truist Financial boosted their price objective on shares of Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, May 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.40.

About Main Street Capital

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.