MGB Wealth Management LLC Increases Holdings in Main Street Capital Co. (NYSE:MAIN)

MGB Wealth Management LLC lifted its position in shares of Main Street Capital Co. (NYSE:MAIN) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,859 shares of the financial services provider’s stock after acquiring an additional 1,150 shares during the quarter. Main Street Capital accounts for about 0.8% of MGB Wealth Management LLC’s holdings, making the stock its 27th biggest position. MGB Wealth Management LLC’s holdings in Main Street Capital were worth $2,149,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Main Street Capital by 3.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock worth $61,758,000 after acquiring an additional 45,381 shares in the last quarter. Burgundy Asset Management Ltd. boosted its stake in shares of Main Street Capital by 1.6% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider’s stock worth $55,881,000 after acquiring an additional 17,623 shares in the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in shares of Main Street Capital by 3.5% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 419,255 shares of the financial services provider’s stock worth $21,021,000 after acquiring an additional 14,045 shares in the last quarter. Muzinich & Co. Inc. lifted its stake in Main Street Capital by 9.3% in the 3rd quarter. Muzinich & Co. Inc. now owns 212,384 shares of the financial services provider’s stock valued at $10,649,000 after buying an additional 18,059 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Main Street Capital by 9.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock valued at $10,526,000 after buying an additional 18,059 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Up 1.5 %

Shares of MAIN opened at $53.97 on Friday. The stock has a fifty day moving average of $51.30 and a two-hundred day moving average of $50.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $4.76 billion, a PE ratio of 9.78 and a beta of 1.29. Main Street Capital Co. has a fifty-two week low of $41.18 and a fifty-two week high of $53.98.

Main Street Capital Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 20th. Main Street Capital’s dividend payout ratio (DPR) is presently 53.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Oppenheimer upped their target price on Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Tuesday, August 13th. B. Riley upped their target price 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.80.

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.