Americana Partners LLC purchased a new position in Main Street Capital Co. (NYSE:MAIN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 67,725 shares of the financial services provider’s stock, valued at approximately $2,016,000. Main Street Capital accounts for about 1.8% of Americana Partners LLC’s portfolio, making the stock its 11th biggest position. Americana Partners LLC owned about 0.10% of Main Street Capital as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in shares of Main Street Capital during the 1st quarter valued at approximately $30,000. Jane Street Group LLC acquired a new position in Main Street Capital during the 1st quarter valued at about $212,000. Clearbridge Investments LLC increased its holdings in shares of Main Street Capital by 1.5% in the first quarter. Clearbridge Investments LLC now owns 318,245 shares of the financial services provider’s stock valued at $6,527,000 after purchasing an additional 4,636 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Main Street Capital by 38.0% in the second quarter. Confluence Investment Management LLC now owns 51,643 shares of the financial services provider’s stock valued at $1,608,000 after purchasing an additional 14,210 shares during the period. Finally, BEAM Asset Management LLC acquired a new position in shares of Main Street Capital in the second quarter valued at about $218,000. 19.00% of the stock is owned by institutional investors.
MAIN has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research report on Friday, October 23rd. Truist Financial increased their price target on Main Street Capital from $28.00 to $33.00 in a report on Wednesday, August 12th. Finally, Raymond James reaffirmed a “hold” rating on shares of Main Street Capital in a report on Wednesday, September 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.40.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Main Street Capital had a positive return on equity of 10.12% and a negative net margin of 34.15%. The firm had revenue of $52.01 million for the quarter, compared to analyst estimates of $49.13 million. During the same quarter in the prior year, the company earned $0.63 EPS. Main Street Capital’s revenue was down 15.2% on a year-over-year basis. On average, research analysts predict that Main Street Capital Co. will post 2.03 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.205 per share. The ex-dividend date is Tuesday, November 24th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 8.61%. Main Street Capital’s payout ratio is 98.40%.
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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