Meridian Wealth Management LLC Increases Position in Main Street Capital Co. (NYSE:MAIN)

Meridian Wealth Management LLC lifted its holdings in Main Street Capital Co. (NYSE:MAIN) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,285 shares of the financial services provider’s stock after buying an additional 538 shares during the period. Meridian Wealth Management LLC owned approximately 0.12% of Main Street Capital worth $6,402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAIN. Asset Planning Inc purchased a new position in shares of Main Street Capital in the 4th quarter worth approximately $29,000. Truvestments Capital LLC purchased a new position in Main Street Capital in the third quarter valued at approximately $39,000. Prospera Private Wealth LLC purchased a new position in Main Street Capital in the third quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB purchased a new position in Main Street Capital in the third quarter valued at approximately $50,000. Finally, AdvisorNet Financial Inc lifted its stake in Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley upped their price objective on Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, November 11th.

Main Street Capital Trading Up 3.0 %

Shares of MAIN stock opened at $60.72 on Monday. The company’s fifty day simple moving average is $60.00 and its two-hundred day simple moving average is $54.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 11.00 and a beta of 1.28.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The business had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. As a group, analysts anticipate that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 4.94%. Main Street Capital’s payout ratio is 51.37%.

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.