Balboa Wealth Partners Purchases 500 Shares of Main Street Capital Co. (NYSE:MAIN)

Balboa Wealth Partners raised its holdings in Main Street Capital Co. (NYSE:MAIN) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,697 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. Balboa Wealth Partners’ holdings in Main Street Capital were worth $536,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Marietta Wealth Management LLC purchased a new position in Main Street Capital during the second quarter valued at approximately $581,000. Freestone Capital Holdings LLC bought a new position in shares of Main Street Capital in the first quarter worth $568,000. Cetera Advisors LLC raised its position in shares of Main Street Capital by 49.0% in the first quarter. Cetera Advisors LLC now owns 34,878 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 11,464 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Main Street Capital by 238.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock valued at $1,718,000 after buying an additional 23,970 shares during the period. Finally, Entropy Technologies LP purchased a new position in Main Street Capital during the first quarter worth about $549,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $52.16 on Friday. The business has a fifty day simple moving average of $50.77 and a two-hundred day simple moving average of $50.11. The firm has a market capitalization of $4.60 billion, a P/E ratio of 9.45 and a beta of 1.29. The company has a current ratio of 0.08, a quick ratio of 0.07 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a 12 month low of $40.51 and a 12 month high of $52.89.

Main Street Capital Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be paid a $0.25 dividend. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Friday, March 7th. Main Street Capital’s dividend payout ratio is currently 53.26%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MAIN. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a research report on Wednesday, August 14th. Oppenheimer lifted 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 report on Tuesday, August 13th. Finally, B. Riley increased 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.80.

Main Street Capital 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.