Meridian Wealth Management LLC Cuts Holdings in Main Street Capital Co. (NYSE:MAIN)

Meridian Wealth Management LLC decreased its position in Main Street Capital Co. (NYSE:MAIN) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,747 shares of the financial services provider’s stock after selling 3,288 shares during the period. Meridian Wealth Management LLC’s holdings in Main Street Capital were worth $5,453,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Main Street Capital by 3.9% in the third quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock valued at $61,758,000 after buying an additional 45,381 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Main Street Capital by 1.6% during the second quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider’s stock worth $55,881,000 after purchasing an additional 17,623 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital by 3.5% during the third quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after purchasing an additional 14,045 shares in the last quarter. Muzinich & Co. Inc. increased its stake in shares of Main Street Capital by 9.3% during the third quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock worth $10,649,000 after purchasing an additional 18,059 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Main Street Capital by 9.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock worth $10,526,000 after purchasing an additional 18,059 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. B. Riley boosted their price target on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.80.

Main Street Capital Price Performance

Shares of MAIN opened at $53.39 on Friday. Main Street Capital Co. has a fifty-two week low of $41.18 and a fifty-two week high of $53.49. The firm’s 50 day moving average price is $51.21 and its 200 day moving average price is $50.22. The company has a market cap of $4.71 billion, a P/E ratio of 9.63 and a beta of 1.29. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 20th. Main Street Capital’s dividend payout ratio is currently 53.26%.

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.