Meridian Wealth Management LLC Has $5.92 Million Stock Holdings in Main Street Capital Corporation $MAIN

Meridian Wealth Management LLC reduced its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,088 shares of the financial services provider’s stock after selling 2,602 shares during the quarter. Meridian Wealth Management LLC’s holdings in Main Street Capital were worth $5,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC purchased a new stake in shares of Main Street Capital in the first quarter worth approximately $39,000. Wellington Shields & Co. LLC bought a new position in shares of Main Street Capital during the 1st quarter worth $41,000. Quarry LP purchased a new position in shares of Main Street Capital in the first quarter worth about $48,000. First Horizon Advisors Inc. purchased a new position in Main Street Capital in the 2nd quarter valued at approximately $50,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Main Street Capital during the 1st quarter valued at $58,000. 20.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of analyst reports. Zacks Research lowered shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. B. Riley cut their target price on Main Street Capital from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday. Truist Financial reduced their price objective on Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Royal Bank Of Canada lifted their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and a consensus target price of $59.60.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $58.38 on Friday. The company has a 50 day moving average price of $60.80 and a 200-day moving average price of $60.59. The firm has a market capitalization of $5.23 billion, a PE ratio of 9.62 and a beta of 0.84. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.09). Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $151.23 million for the quarter, compared to the consensus estimate of $140.53 million. As a group, equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, March 6th will be paid a dividend of $0.26 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, March 6th. Main Street Capital’s dividend payout ratio (DPR) is 50.75%.

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.