Foundations Investment Advisors LLC Sells 78,402 Shares of Main Street Capital Co. (NYSE:MAIN)

Foundations Investment Advisors LLC lessened its holdings in Main Street Capital Co. (NYSE:MAIN) by 83.1% in the second quarter, Holdings Channel reports. The institutional investor owned 15,954 shares of the financial services provider’s stock after selling 78,402 shares during the period. Foundations Investment Advisors LLC’s holdings in Main Street Capital were worth $806,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MAIN. LifeSteps Financial Inc. acquired a new position in Main Street Capital in the 1st quarter valued at approximately $35,000. Triad Wealth Partners LLC bought a new stake in shares of Main Street Capital in the second quarter worth $38,000. Nomura Asset Management Co. Ltd. increased its holdings in Main Street Capital by 73.6% in 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 purchasing an additional 483 shares during the period. Optimum Investment Advisors raised its position in Main Street Capital by 100.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 500 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Main Street Capital during the 4th quarter worth about $72,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Price Performance

Shares of MAIN opened at $48.65 on Friday. The firm has a market cap of $4.17 billion, a PE ratio of 8.86 and a beta of 1.29. Main Street Capital Co. has a 52-week low of $37.70 and a 52-week high of $52.39. The business’s 50 day moving average price is $50.12 and its two-hundred day moving average price is $48.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $132.15 million for the quarter, compared to the consensus estimate of $132.62 million. Main Street Capital had a net margin of 87.58% and a return on equity of 14.41%. During the same quarter in the previous year, the company earned $1.06 EPS. On average, equities analysts anticipate that Main Street Capital Co. will post 4.13 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 20th. Main Street Capital’s dividend payout ratio is presently 53.65%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MAIN. B. Riley raised their price objective on Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer boosted 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 research report on Tuesday, August 13th. Finally, Truist Financial increased their price objective on shares of Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Five research 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 presently has an average rating of “Hold” and an average target price 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.