Newbridge Financial Services Group Inc. bought a new position in Main Street Capital Co. (NYSE:MAIN – Get Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 782 shares of the financial services provider's stock, valued at approximately $30,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of MAIN. Northern Trust Corp grew its position in Main Street Capital by 1.1% during the fourth quarter. Northern Trust Corp now owns 33,791 shares of the financial services provider's stock valued at $1,516,000 after purchasing an additional 354 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Main Street Capital by 3.1% during the 4th quarter. LPL Financial LLC now owns 177,133 shares of the financial services provider's stock valued at $7,946,000 after acquiring an additional 5,299 shares in the last quarter. Greenwich Investment Management Inc. acquired a new position in shares of Main Street Capital in the fourth quarter worth $513,000. Coastal Bridge Advisors LLC raised its holdings in shares of Main Street Capital by 2.1% during the fourth quarter. Coastal Bridge Advisors LLC now owns 15,125 shares of the financial services provider's stock worth $679,000 after acquiring an additional 309 shares in the last quarter. Finally, Circle Wealth Management LLC boosted its position in Main Street Capital by 17.5% during the fourth quarter. Circle Wealth Management LLC now owns 10,014 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 1,488 shares during the last quarter. Institutional investors and hedge funds own 19.11% of the company's stock.
Get Main Street Capital alerts:Main Street Capital Price Performance
Shares of NYSE:MAIN opened at $36.42 on Monday. The stock has a market capitalization of $2.66 billion, a P/E ratio of 9.92 and a beta of 1.28. The business has a 50-day moving average of $42.04 and a two-hundred day moving average of $40.51. Main Street Capital Co. has a fifty-two week low of $34.35 and a fifty-two week high of $47.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.06 and a quick ratio of 0.06.
Main Street Capital Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, October 7th will be issued a $0.10 dividend. This is a positive change from Main Street Capital's previous monthly dividend of $0.08. This represents a $1.20 annualized dividend and a yield of 3.29%. The ex-dividend date is Thursday, October 6th. Main Street Capital's payout ratio is 70.30%.Wall Street Analyst Weigh In
Several brokerages have weighed in on MAIN. Raymond James lowered Main Street Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, August 8th. TheStreet raised shares of Main Street Capital from a "c+" rating to a "b-" rating in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.80.
About Main Street Capital
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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.
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