Main Street Capital Corporation $MAIN Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 87.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,610 shares of the financial services provider’s stock after selling 11,165 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Main Street Capital were worth $97,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MAIN. Smartleaf Asset Management LLC boosted its position in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after buying an additional 250 shares during the period. Garner Asset Management Corp bought a new stake in Main Street Capital during the fourth quarter worth approximately $28,000. Investors Research Corp bought a new stake in Main Street Capital during the fourth quarter worth approximately $30,000. Assetmark Inc. raised its holdings in Main Street Capital by 203.0% during the third quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 339 shares in the last quarter. Finally, Key Capital Management INC bought a new stake in Main Street Capital during the fourth quarter worth approximately $50,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Trading Down 0.4%

Main Street Capital stock opened at $51.80 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 10.90 and a beta of 0.72. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.77. The firm’s 50 day moving average price is $53.01 and its two-hundred day moving average price is $57.33.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The business had revenue of $73.44 million during the quarter, compared to analyst estimates of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. On average, research analysts predict that Main Street Capital Corporation will post 3.78 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 6.1%. Main Street Capital’s payout ratio is 65.68%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MAIN shares. Citizens Jmp dropped their target price on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Wells Fargo & Company began coverage on Main Street Capital in a report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price objective for the company. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Royal Bank Of Canada dropped their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.14.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.