Sanctuary Advisors LLC Invests $702,000 in Main Street Capital Co. (NYSE:MAIN)

Sanctuary Advisors LLC bought a new stake in shares of Main Street Capital Co. (NYSE:MAIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,294 shares of the financial services provider’s stock, valued at approximately $702,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAIN. Triad Wealth Partners LLC bought a new stake in shares of Main Street Capital during the 2nd quarter valued at $38,000. Optimum Investment Advisors grew its holdings in Main Street Capital by 100.0% during the second 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 period. Northwestern Mutual Wealth Management Co. increased its position 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 buying an additional 405 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Main Street Capital in the second quarter worth about $79,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Main Street Capital during the 2nd quarter valued at approximately $80,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Oppenheimer raised their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Four 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, the company currently has a consensus rating of “Hold” and an average target price of $48.40.

Main Street Capital Trading Up 0.6 %

Shares of MAIN opened at $51.22 on Monday. Main Street Capital Co. has a 1 year low of $37.70 and a 1 year high of $52.39. The company has a 50 day simple moving average of $49.58 and a two-hundred day simple moving average of $49.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a market cap of $4.39 billion, a P/E ratio of 9.35 and a beta of 1.30.

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 analysts’ consensus estimates of $1.01. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. The company had revenue of $132.15 million for the quarter, compared to the consensus estimate of $132.62 million. During the same period in the previous year, the firm posted $1.06 EPS. On average, equities analysts expect that Main Street Capital Co. will post 4.12 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

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

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.