Confluence Investment Management LLC Has $3.67 Million Holdings in Main Street Capital Co. (MAIN)
Confluence Investment Management LLC decreased its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 92,373 shares of the financial services provider’s stock after selling 6,625 shares during the quarter. Confluence Investment Management LLC’s holdings in Main Street Capital were worth $3,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Atlantic Trust Group LLC bought a new stake in Main Street Capital during the 3rd quarter valued at $2,470,000. Burgundy Asset Management Ltd. raised its holdings in Main Street Capital by 6.8% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 1,828,173 shares of the financial services provider’s stock valued at $72,670,000 after acquiring an additional 116,075 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Main Street Capital by 64.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,626 shares of the financial services provider’s stock valued at $542,000 after acquiring an additional 5,327 shares during the period. GSA Capital Partners LLP bought a new stake in Main Street Capital during the 3rd quarter valued at $208,000. Finally, California Public Employees Retirement System raised its holdings in Main Street Capital by 14.1% during the 3rd quarter. California Public Employees Retirement System now owns 122,673 shares of the financial services provider’s stock valued at $4,876,000 after acquiring an additional 15,173 shares during the period. 27.05% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on MAIN. Zacks Investment Research cut shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday. Raymond James Financial raised shares of Main Street Capital from an “underperform” rating to a “market perform” rating in a report on Tuesday, November 7th. National Securities reaffirmed a “sell” rating and issued a $33.00 price target on shares of Main Street Capital in a report on Monday, November 6th. Finally, BidaskClub raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Main Street Capital currently has an average rating of “Hold” and a consensus target price of $39.18.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $51.79 million for the quarter, compared to analysts’ expectations of $50.89 million. Main Street Capital had a net margin of 79.87% and a return on equity of 10.14%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. research analysts expect that Main Street Capital Co. will post 2.33 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $2.28 annualized dividend and a dividend yield of 5.90%. Main Street Capital’s payout ratio is currently 80.57%.
About Main Street Capital
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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