Balboa Wealth Partners Has $536,000 Position in Main Street Capital Co. (NYSE:MAIN)

Balboa Wealth Partners lifted its position in shares of Main Street Capital Co. (NYSE:MAIN) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other hedge funds have also bought and sold shares of the company. Godsey & Gibb Inc. acquired a new position in shares of Main Street Capital in the third quarter valued at approximately $28,000. Triad Wealth Partners LLC acquired a new position in shares of Main Street Capital in the second quarter valued at approximately $38,000. Optimum Investment Advisors increased its position in Main Street Capital by 100.0% in the 2nd quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 500 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Main Street Capital by 59.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 405 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Main Street Capital during the second quarter worth about $79,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAIN has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer boosted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Finally, B. Riley increased their price target on Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday. Four 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 company has a consensus rating of “Hold” and an average price target of $48.80.

Main Street Capital Stock Down 0.1 %

MAIN stock opened at $52.16 on Friday. The firm has a market capitalization of $4.60 billion, a PE ratio of 9.45 and a beta of 1.29. The stock’s 50 day moving average is $50.77 and its 200-day moving average is $50.11. Main Street Capital Co. has a twelve month low of $40.51 and a twelve month high of $52.89. The company has a quick ratio of 0.07, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 5.75%. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) is currently 53.26%.

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.