Main Street Capital Co. (MAIN) Shares Bought by Sound Income Strategies LLC
Sound Income Strategies LLC boosted its holdings in Main Street Capital Co. (NYSE:MAIN) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412,687 shares of the financial services provider’s stock after buying an additional 19,302 shares during the quarter. Main Street Capital makes up 7.3% of Sound Income Strategies LLC’s holdings, making the stock its 4th biggest holding. Sound Income Strategies LLC owned approximately 0.68% of Main Street Capital worth $13,953,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. BlueMountain Capital Management LLC raised its position in Main Street Capital by 17.1% in the second quarter. BlueMountain Capital Management LLC now owns 10,255 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 1,499 shares during the last quarter. First Republic Investment Management Inc. raised its position in Main Street Capital by 2.7% in the third quarter. First Republic Investment Management Inc. now owns 61,372 shares of the financial services provider’s stock valued at $2,363,000 after purchasing an additional 1,610 shares during the last quarter. Accurate Investment Solutions Inc. raised its position in Main Street Capital by 1.6% in the third quarter. Accurate Investment Solutions Inc. now owns 110,507 shares of the financial services provider’s stock valued at $4,255,000 after purchasing an additional 1,777 shares during the last quarter. Cue Financial Group Inc. bought a new position in Main Street Capital in the third quarter valued at about $689,000. Finally, AllSquare Wealth Management LLC raised its position in Main Street Capital by 10.0% in the third quarter. AllSquare Wealth Management LLC now owns 22,050 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 2,000 shares during the last quarter. 23.42% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on MAIN. Zacks Investment Research downgraded Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Raymond James upgraded Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research report on Monday, November 5th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.50.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The company had revenue of $58.26 million during the quarter, compared to the consensus estimate of $59.19 million. Main Street Capital had a return on equity of 10.61% and a net margin of 95.77%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. As a group, sell-side analysts anticipate that Main Street Capital Co. will post 2.54 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a $0.195 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $2.34 dividend on an annualized basis and a yield of 6.44%. Main Street Capital’s payout ratio is currently 97.91%.
In other Main Street Capital news, Chairman Vincent D. Foster bought 25,869 shares of the stock in a transaction on Friday, November 16th. The stock was acquired at an average cost of $38.66 per share, for a total transaction of $1,000,095.54. Following the completion of the acquisition, the chairman now owns 1,583,565 shares in the company, valued at approximately $61,220,622.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.31% of the company’s stock.
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About Main Street Capital
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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