Strategic Financial Concepts LLC Has $335,000 Stake in Main Street Capital Co. (NYSE:MAIN)

Strategic Financial Concepts LLC reduced its position in shares of Main Street Capital Co. (NYSE:MAIN) by 22.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,070 shares of the financial services provider’s stock after selling 2,053 shares during the period. Strategic Financial Concepts LLC’s holdings in Main Street Capital were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MAIN. PFG Investments LLC purchased a new stake in shares of Main Street Capital in the first quarter worth approximately $583,000. Uncommon Cents Investing LLC lifted its position in Main Street Capital by 14.5% in the 1st quarter. Uncommon Cents Investing LLC now owns 13,865 shares of the financial services provider’s stock worth $656,000 after buying an additional 1,760 shares in the last quarter. Wealthstar Advisors LLC boosted its stake in shares of Main Street Capital by 4.4% during the 1st quarter. Wealthstar Advisors LLC now owns 22,708 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 960 shares during the period. Taylor Frigon Capital Management LLC increased its stake in shares of Main Street Capital by 0.6% in the first quarter. Taylor Frigon Capital Management LLC now owns 40,320 shares of the financial services provider’s stock worth $1,908,000 after acquiring an additional 232 shares during the last quarter. Finally, Albion Financial Group UT raised 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 acquiring an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

MAIN traded down $0.10 on Tuesday, hitting $49.61. The company had a trading volume of 243,920 shares, compared to its average volume of 350,746. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 9.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. The company’s fifty day moving average price is $46.78 and its 200 day moving average price is $43.98. Main Street Capital Co. has a 1-year low of $37.70 and a 1-year high of $49.79.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The business had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Equities analysts predict that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. 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 is 55.17%.

Analyst Upgrades and Downgrades

MAIN has been the topic of a number of recent research reports. Truist Financial boosted their target price on Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Oppenheimer increased their price objective on Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. B. Riley cut shares of 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 boosted their target price on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, UBS Group raised their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.17.

Main Street Capital Company 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.