Cornerstone Wealth Management LLC Takes $209,000 Position in Main Street Capital Co. (NYSE:MAIN)

Cornerstone Wealth Management LLC acquired a new position in shares of Main Street Capital Co. (NYSE:MAIN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,563 shares of the financial services provider’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in shares of Main Street Capital by 25.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 91,243 shares of the financial services provider’s stock valued at $4,607,000 after acquiring an additional 18,635 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Main Street Capital during the second quarter worth about $312,000. ProShare Advisors LLC boosted its holdings in Main Street Capital by 8.2% in the 2nd quarter. ProShare Advisors LLC now owns 12,884 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 971 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Main Street Capital in the 2nd quarter valued at approximately $349,000. Finally, Susquehanna Fundamental Investments LLC increased its holdings in shares of Main Street Capital by 238.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock worth $1,718,000 after buying an additional 23,970 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley increased their price objective on 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $61.13 on Monday. The firm has a market cap of $5.39 billion, a P/E ratio of 11.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital Co. has a one year low of $43.90 and a one year high of $61.37. The firm’s 50 day moving average price is $56.88 and its 200-day moving average price is $52.67.

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

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a $0.30 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital’s dividend payout ratio (DPR) is currently 54.35%.

About Main Street Capital

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.