Procyon Advisors LLC Purchases New Stake in Main Street Capital Co. (NYSE:MAIN)

Procyon Advisors LLC acquired a new position in Main Street Capital Co. (NYSE:MAIN) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,461 shares of the financial services provider’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Main Street Capital in the second quarter valued at approximately $38,000. Optimum Investment Advisors lifted its stake in shares of Main Street Capital by 100.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 500 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Main Street Capital by 59.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 405 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Main Street Capital during the second quarter worth $79,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Main Street Capital during the second quarter valued at about $80,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Up 1.6 %

Main Street Capital stock opened at $51.83 on Thursday. Main Street Capital Co. has a 52 week low of $37.70 and a 52 week high of $52.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $4.44 billion, a PE ratio of 9.46 and a beta of 1.30. The business’s 50-day simple moving average is $49.76 and its 200-day simple moving average is $49.53.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $132.15 million during the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same period in the previous year, the company earned $1.06 earnings per share. Equities research analysts forecast that Main Street Capital Co. will post 4.12 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a dividend yield of 7.66%. Main Street Capital’s payout ratio is 53.65%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MAIN shares. Oppenheimer increased their price objective on Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.40.

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.