Burgundy Asset Management Ltd. Purchases 17,623 Shares of Main Street Capital Co. (NYSE:MAIN)

Burgundy Asset Management Ltd. raised its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,106,782 shares of the financial services provider’s stock after acquiring an additional 17,623 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 1.29% of Main Street Capital worth $55,881,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Corient Private Wealth LLC raised its stake in Main Street Capital by 226.1% during the 4th quarter. Corient Private Wealth LLC now owns 29,996 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 20,799 shares during the period. Balboa Wealth Partners lifted its holdings in shares of Main Street Capital by 30.9% in the fourth quarter. Balboa Wealth Partners now owns 14,956 shares of the financial services provider’s stock worth $647,000 after buying an additional 3,528 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Main Street Capital by 73.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 483 shares during the last quarter. Heritage Wealth Advisors grew its stake in Main Street Capital by 20.0% during the fourth quarter. Heritage Wealth Advisors now owns 3,600 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 600 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Main Street Capital by 4.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 18,030 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 781 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MAIN. Oppenheimer increased their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.40.

Main Street Capital Stock Performance

Main Street Capital stock opened at $50.17 on Thursday. The company’s 50-day moving average price is $49.74 and its 200-day moving average price is $48.92. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.30 billion, a PE ratio of 9.16 and a beta of 1.30. Main Street Capital Co. has a twelve month low of $37.70 and a twelve month high of $52.39.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting the consensus estimate of $1.01. The company had revenue of $132.15 million for the quarter, compared to analysts’ expectations of $132.62 million. Main Street Capital had a return on equity of 14.41% and a net margin of 87.58%. During the same period in the previous year, the firm posted $1.06 earnings per share. On average, equities research analysts forecast that Main Street Capital Co. will post 4.13 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 23rd will be given a $0.30 dividend. The ex-dividend date is Friday, September 20th. This represents a yield of 7.66%. Main Street Capital’s dividend payout ratio is presently 53.65%.

About Main Street Capital

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.