Sound Income Strategies LLC Sells 4,453 Shares of Main Street Capital Co. (NYSE:MAIN)

by · The Markets Daily

Sound Income Strategies LLC lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN – Free Report) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,371 shares of the financial services provider’s stock after selling 4,453 shares during the quarter. Main Street Capital makes up approximately 1.1% of Sound Income Strategies LLC’s holdings, making the stock its 28th biggest holding. Sound Income Strategies LLC owned about 0.41% of Main Street Capital worth $17,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT grew its stake in shares of Main Street Capital by 0.3% during the third quarter. Albion Financial Group UT now owns 115,047 shares of the financial services provider’s stock valued at $5,768,000 after purchasing an additional 380 shares during the last quarter. Sanders Morris Harris LLC boosted its position in Main Street Capital by 0.7% in the 3rd quarter. Sanders Morris Harris LLC now owns 208,052 shares of the financial services provider’s stock valued at $10,432,000 after buying an additional 1,443 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Main Street Capital in the 2nd quarter valued at $702,000. Cetera Investment Advisers raised its position in shares of Main Street Capital by 9.1% during the second quarter. Cetera Investment Advisers now owns 61,527 shares of the financial services provider’s stock worth $3,107,000 after acquiring an additional 5,122 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Main Street Capital by 3.9% during the second quarter. B. Riley Wealth Advisors Inc. now owns 54,988 shares of the financial services provider’s stock valued at $2,776,000 after acquiring an additional 2,049 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Trading Up 0.6 %

Shares of NYSE:MAIN traded up $0.29 during mid-day trading on Friday, reaching $51.22. The stock had a trading volume of 458,247 shares, compared to its average volume of 364,307. The firm has a 50 day simple moving average of $49.58 and a two-hundred day simple moving average of $49.44. Main Street Capital Co. has a twelve month low of $37.70 and a twelve month high of $52.39. The firm has a market cap of $4.39 billion, a PE ratio of 9.35 and a beta of 1.30. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.01. The company had revenue of $132.15 million for the quarter, compared to analysts’ expectations of $132.62 million. Main Street Capital had a net margin of 87.58% and a return on equity of 14.06%. During the same period last year, the firm posted $1.06 earnings per share. On average, research analysts predict that Main Street Capital Co. will post 4.12 EPS for the current fiscal year.

Main Street Capital Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on MAIN shares. Oppenheimer lifted their price objective on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Four equities 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.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.40.

Read Our Latest Stock Analysis on MAIN

About Main Street Capital

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding MAIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Main Street Capital Co. (NYSE:MAIN – Free Report).