RMR Wealth Builders Decreases Holdings in Main Street Capital Co. (NYSE:MAIN)

RMR Wealth Builders reduced its stake in Main Street Capital Co. (NYSE:MAIN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,769 shares of the financial services provider’s stock after selling 533 shares during the period. RMR Wealth Builders’ holdings in Main Street Capital were worth $638,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MAIN. Burgundy Asset Management Ltd. grew its stake in shares of Main Street Capital by 2.1% in the third quarter. Burgundy Asset Management Ltd. now owns 1,020,535 shares of the financial services provider’s stock valued at $41,464,000 after buying an additional 21,085 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Main Street Capital by 10.1% during the fourth quarter. Van ECK Associates Corp now owns 886,026 shares of the financial services provider’s stock valued at $38,303,000 after purchasing an additional 80,963 shares during the period. Legal & General Group Plc lifted its position in shares of Main Street Capital by 1.4% during the third quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider’s stock worth $23,902,000 after purchasing an additional 8,091 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Main Street Capital by 2.0% in the fourth quarter. Sound Income Strategies LLC now owns 351,983 shares of the financial services provider’s stock valued at $15,216,000 after purchasing an additional 6,855 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its holdings in Main Street Capital by 2.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 282,140 shares of the financial services provider’s stock valued at $12,197,000 after purchasing an additional 7,525 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

NYSE:MAIN traded down $0.07 during midday trading on Wednesday, reaching $50.63. 287,388 shares of the company traded hands, compared to its average volume of 349,448. Main Street Capital Co. has a twelve month low of $37.70 and a twelve month high of $51.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. The company has a fifty day moving average price of $47.37 and a 200 day moving average price of $44.40. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The firm had revenue of $129.31 million for the quarter, compared to the consensus estimate of $125.52 million. On average, analysts expect that Main Street Capital Co. will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 8th will be issued a $0.245 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 5.81%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24. The ex-dividend date is Monday, July 8th. Main Street Capital’s dividend payout ratio is 55.17%.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada increased their target price on Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Oppenheimer boosted their price target on Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Finally, Truist Financial raised their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $46.17.

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.