Sound Income Strategies LLC Has $20.10 Million Position in Main Street Capital Co. (NYSE:MAIN)

Sound Income Strategies LLC cut its stake in Main Street Capital Co. (NYSE:MAIN) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,040 shares of the financial services provider’s stock after selling 8,331 shares during the quarter. Main Street Capital accounts for 1.2% of Sound Income Strategies LLC’s holdings, making the stock its 24th biggest position. Sound Income Strategies LLC owned 0.39% of Main Street Capital worth $20,095,000 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 MAIN. Godsey & Gibb Inc. bought a new stake in shares of Main Street Capital in the third quarter worth about $28,000. Truvestments Capital LLC acquired a new position in shares of Main Street Capital in the 3rd quarter valued at approximately $39,000. Prospera Private Wealth LLC bought a new stake in Main Street Capital during the 3rd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB acquired a new stake in Main Street Capital during the 3rd quarter worth approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Main Street Capital by 59.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,089 shares of the financial services provider’s stock valued at $55,000 after buying an additional 405 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.80.

Main Street Capital Trading Up 0.0 %

NYSE MAIN opened at $60.73 on Friday. Main Street Capital Co. has a 52 week low of $43.90 and a 52 week high of $61.18. 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 stock’s 50 day moving average price is $56.53 and its two-hundred day moving average price is $52.54. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.00 and a beta of 1.28.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, November 7th. The financial services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $136.82 million during the quarter, compared to the consensus estimate of $137.57 million. During the same period in the prior year, the firm earned $1.04 EPS. As a group, analysts anticipate that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be issued a $0.30 dividend. This represents a $3.60 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital’s payout ratio is 54.35%.

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.