Main Street Capital Co. (NYSE:MAIN) Shares Bought by Vertex Planning Partners LLC

Vertex Planning Partners LLC boosted its stake in Main Street Capital Co. (NYSE:MAIN) by 65.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,583 shares of the financial services provider’s stock after buying an additional 3,383 shares during the period. Vertex Planning Partners LLC’s holdings in Main Street Capital were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MAIN. Nomura Asset Management Co. Ltd. increased its position in shares of Main Street Capital by 270.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 6,793 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Main Street Capital by 2.2% during the 4th quarter. Blair William & Co. IL now owns 41,214 shares of the financial services provider’s stock worth $2,414,000 after purchasing an additional 872 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $385,000. JPMorgan Chase & Co. raised its position in Main Street Capital by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 139,189 shares of the financial services provider’s stock valued at $8,154,000 after acquiring an additional 37,640 shares in the last quarter. Finally, TrueMark Investments LLC bought a new stake in Main Street Capital in the fourth quarter worth approximately $446,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial increased their target price on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

Main Street Capital Stock Down 0.8 %

MAIN stock opened at $57.46 on Friday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 10.41 and a beta of 1.26. The company has a 50-day moving average of $59.73 and a two-hundred day moving average of $55.64. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The business had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. As a group, equities research analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 20th. This is an increase from Main Street Capital’s previous dividend of $0.25. This represents a yield of 7.11%. Main Street Capital’s dividend payout ratio (DPR) is 51.37%.

Insider Activity at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

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.