Mercer Global Advisors Inc. ADV Raises Position in Main Street Capital Co. (NYSE:MAIN)

Mercer Global Advisors Inc. ADV increased its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,419 shares of the financial services provider’s stock after buying an additional 4,184 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.08% of Main Street Capital worth $3,303,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. J.W. Cole Advisors Inc. raised its holdings in shares of Main Street Capital by 66.2% in the second quarter. J.W. Cole Advisors Inc. now owns 22,880 shares of the financial services provider’s stock valued at $1,155,000 after purchasing an additional 9,114 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Main Street Capital by 25.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 91,243 shares of the financial services provider’s stock valued at $4,607,000 after buying an additional 18,635 shares during the last quarter. Wambolt & Associates LLC lifted its position in shares of Main Street Capital by 3.0% during the 2nd quarter. Wambolt & Associates LLC now owns 81,803 shares of the financial services provider’s stock worth $4,131,000 after buying an additional 2,411 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of Main Street Capital by 4,588.2% in the 2nd quarter. HHM Wealth Advisors LLC now owns 3,985 shares of the financial services provider’s stock worth $201,000 after buying an additional 3,900 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in shares of Main Street Capital by 1.8% in the second quarter. PFG Investments LLC now owns 12,557 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 227 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MAIN. Oppenheimer lifted their price target on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 target price 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 given a buy rating to the company’s stock. According to MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average target price of $48.40.

Main Street Capital Stock Performance

NYSE:MAIN opened at $50.00 on Monday. Main Street Capital Co. has a 1 year low of $37.70 and a 1 year high of $52.39. The business has a fifty day simple moving average of $49.68 and a two-hundred day simple moving average of $49.01. The company has a market capitalization of $4.29 billion, a P/E ratio of 9.12 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, meeting analysts’ consensus estimates of $1.01. The company had revenue of $132.15 million during the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a net margin of 87.58% and a return on equity of 14.41%. During the same period last year, the business earned $1.06 earnings per share. On average, analysts expect that Main Street Capital Co. will post 4.13 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.30 per share. This represents a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, September 20th. Main Street Capital’s payout ratio is 53.65%.

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.