PFG Investments LLC Makes New Investment in Main Street Capital Co. (NYSE:MAIN)

PFG Investments LLC bought a new stake in Main Street Capital Co. (NYSE:MAIN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,330 shares of the financial services provider’s stock, valued at approximately $583,000.

A number of other large investors also recently made changes to their positions in MAIN. Uncommon Cents Investing LLC grew its stake in shares of Main Street Capital by 14.5% in the first quarter. Uncommon Cents Investing LLC now owns 13,865 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 1,760 shares in the last quarter. Wealthstar Advisors LLC boosted its holdings in Main Street Capital by 4.4% in the 1st quarter. Wealthstar Advisors LLC now owns 22,708 shares of the financial services provider’s stock valued at $1,074,000 after purchasing an additional 960 shares during the period. Taylor Frigon Capital Management LLC grew its position in shares of Main Street Capital by 0.6% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 40,320 shares of the financial services provider’s stock worth $1,908,000 after purchasing an additional 232 shares in the last quarter. Albion Financial Group UT increased its holdings in shares of Main Street Capital by 1.0% during the first quarter. Albion Financial Group UT now owns 114,272 shares of the financial services provider’s stock worth $5,406,000 after purchasing an additional 1,165 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Main Street Capital by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 189,762 shares of the financial services provider’s stock valued at $8,978,000 after buying an additional 4,564 shares during the period. Institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MAIN shares. UBS Group lifted their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. B. Riley downgraded Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, January 8th. Royal Bank of Canada lifted their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Truist Financial raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. Finally, Oppenheimer upped their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Main Street Capital Trading Up 1.1 %

MAIN traded up $0.56 during trading on Monday, reaching $49.69. 426,902 shares of the company’s stock were exchanged, compared to its average volume of 352,047. The firm has a fifty day moving average price of $46.68 and a two-hundred day moving average price of $43.91. The stock has a market capitalization of $4.22 billion, a PE ratio of 9.52 and a beta of 1.29. Main Street Capital Co. has a one year low of $37.70 and a one year high of $49.79. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. As a group, equities research analysts forecast that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were issued a $0.30 dividend. This represents a yield of 8.37%. This is a boost from Main Street Capital’s previous dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. Main Street Capital’s dividend payout ratio (DPR) is presently 55.17%.

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.