Burgundy Asset Management Ltd. Boosts Stock Position in Main Street Capital Co. (NYSE:MAIN)

Burgundy Asset Management Ltd. grew its holdings in 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 purchasing an additional 17,623 shares during the period. Burgundy Asset Management Ltd.’s holdings in Main Street Capital were worth $55,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its stake in Main Street Capital by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after purchasing an additional 71,698 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Main Street Capital by 14.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider’s stock worth $58,069,000 after buying an additional 141,312 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital by 26.9% during the second quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider’s stock valued at $20,459,000 after buying an additional 85,995 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Main Street Capital by 2.2% in the first quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after acquiring an additional 7,790 shares in the last quarter. Finally, Sanders Morris Harris LLC purchased a new stake in Main Street Capital in the first quarter worth about $9,889,000. 20.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Main Street Capital in a research report on Wednesday, August 14th. Oppenheimer boosted their price objective 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. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Main Street Capital has an average rating of “Hold” and a consensus target price of $48.40.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $50.17 on Thursday. The company has a market capitalization of $4.30 billion, a PE ratio of 9.16 and a beta of 1.30. The company has a 50-day simple moving average of $49.74 and a two-hundred day simple moving average of $48.92. Main Street Capital Co. has a one year low of $37.70 and a one year high of $52.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.07 and a current ratio of 0.07.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, hitting the consensus estimate of $1.01. The firm 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 quarter in the previous year, the business posted $1.06 EPS. Research analysts expect that Main Street Capital Co. will post 4.13 EPS for the current fiscal 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 given a $0.30 dividend. The ex-dividend date is Friday, September 20th. This represents a dividend yield of 7.66%. Main Street Capital’s payout ratio is 53.65%.

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.