Virtus ETF Advisers LLC bought a new stake in Main Street Capital Co. (NYSE:MAIN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 62,658 shares of the financial services provider’s stock, valued at approximately $2,576,000.
A number of other institutional investors have also recently bought and sold shares of MAIN. HighTower Advisors LLC lifted its position in shares of Main Street Capital by 1.7% in the second quarter. HighTower Advisors LLC now owns 164,902 shares of the financial services provider’s stock valued at $6,788,000 after acquiring an additional 2,818 shares in the last quarter. United Capital Financial Advisers LLC purchased a new stake in shares of Main Street Capital in the second quarter valued at $255,000. Aptus Capital Advisors LLC lifted its position in shares of Main Street Capital by 18.6% in the second quarter. Aptus Capital Advisors LLC now owns 20,169 shares of the financial services provider’s stock valued at $829,000 after acquiring an additional 3,159 shares in the last quarter. Northern Trust Corp lifted its position in shares of Main Street Capital by 6.6% in the second quarter. Northern Trust Corp now owns 29,984 shares of the financial services provider’s stock valued at $1,233,000 after acquiring an additional 1,853 shares in the last quarter. Finally, Resources Investment Advisors LLC. lifted its position in shares of Main Street Capital by 147.3% in the second quarter. Resources Investment Advisors LLC. now owns 19,989 shares of the financial services provider’s stock valued at $822,000 after acquiring an additional 11,906 shares in the last quarter. 22.42% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on MAIN. Zacks Investment Research downgraded Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley set a $43.00 target price on Main Street Capital and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.80.
Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Main Street Capital had a return on equity of 10.57% and a net margin of 65.74%. The firm had revenue of $61.30 million for the quarter, compared to the consensus estimate of $61.33 million. During the same period in the prior year, the business posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Main Street Capital Co. will post 2.54 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, September 19th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $2.46 annualized dividend and a yield of 5.68%. Main Street Capital’s dividend payout ratio (DPR) is presently 94.62%.
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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