Burgundy Asset Management Ltd. Sells 131,635 Shares of Main Street Capital Co. (MAIN)
Burgundy Asset Management Ltd. decreased its position in Main Street Capital Co. (NYSE:MAIN) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,767,621 shares of the financial services provider’s stock after selling 131,635 shares during the period. Burgundy Asset Management Ltd. owned 2.92% of Main Street Capital worth $67,276,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in Main Street Capital by 145.9% during the first quarter. Royal Bank of Canada now owns 59,343 shares of the financial services provider’s stock worth $2,190,000 after buying an additional 35,211 shares during the last quarter. CNO Financial Group Inc. boosted its holdings in Main Street Capital by 114.3% during the second quarter. CNO Financial Group Inc. now owns 300,000 shares of the financial services provider’s stock worth $11,418,000 after buying an additional 160,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Main Street Capital by 8.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 176,047 shares of the financial services provider’s stock worth $6,469,000 after buying an additional 14,034 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Main Street Capital by 5.6% during the second quarter. Advisory Services Network LLC now owns 62,697 shares of the financial services provider’s stock worth $2,470,000 after buying an additional 3,349 shares during the last quarter. Finally, Guild Investment Management Inc. bought a new position in Main Street Capital during the second quarter worth about $1,108,000. Institutional investors and hedge funds own 23.67% of the company’s stock.
MAIN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Main Street Capital from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, May 9th. National Securities raised their target price on Main Street Capital from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 8th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $40.00 price target on shares of Main Street Capital in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.25.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $59.87 million for the quarter, compared to analyst estimates of $57.88 million. Main Street Capital had a return on equity of 11.81% and a net margin of 83.40%. Main Street Capital’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. research analysts anticipate that Main Street Capital Co. will post 2.58 earnings per share for the current fiscal year.
Main Street Capital Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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