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Mirae Asset Global Investments Co. Ltd. Boosts Stake in Main Street Capital Co. (NYSE:MAIN)

Defense World ·  09/28/2022 16:21

Mirae Asset Global Investments Co. Ltd. boosted its stake in Main Street Capital Co. (NYSE:MAIN – Get Rating) by 43.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,092 shares of the financial services provider's stock after acquiring an additional 8,239 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Main Street Capital were worth $1,155,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. acquired a new position in Main Street Capital in the 1st quarter valued at about $30,000. Versant Capital Management Inc acquired a new position in Main Street Capital in the 1st quarter valued at about $38,000. Avion Wealth increased its position in Main Street Capital by 16,666.7% in the 1st quarter. Avion Wealth now owns 1,006 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 1,000 shares during the period. Hexagon Capital Partners LLC acquired a new position in Main Street Capital in the 1st quarter valued at about $47,000. Finally, FourThought Financial LLC acquired a new position in Main Street Capital in the 1st quarter valued at about $103,000. Institutional investors and hedge funds own 19.11% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAIN. TheStreet cut Main Street Capital from a "b-" rating to a "c+" rating in a research report on Friday, September 23rd. Raymond James cut Main Street Capital from an "outperform" rating to a "market perform" rating in a research report on Monday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.80.

Main Street Capital Trading Up 0.5 %

Shares of Main Street Capital stock opened at $34.75 on Wednesday. Main Street Capital Co. has a fifty-two week low of $34.35 and a fifty-two week high of $47.13. The firm has a market cap of $2.54 billion, a PE ratio of 9.65 and a beta of 1.28. The business's fifty day moving average is $41.90 and its two-hundred day moving average is $40.47. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.18.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, October 6th. This is a positive change from Main Street Capital's previous monthly dividend of $0.08. Main Street Capital's dividend payout ratio is currently 70.30%.

Main Street Capital Company Profile

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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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Want to see what other hedge funds are holding MAIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Main Street Capital Co. (NYSE:MAIN – Get Rating).

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