Partnervest Advisory Services LLC Reduced Holding in Main Street Capital Co. (MAIN)

Partnervest Advisory Services LLC Reduced Holding in Main Street Capital Co. (MAIN)

Partnervest Advisory Services LLC lowered its position in Main Street Capital Co. (NYSE:MAIN) by 6.0% during the first quarter, Holdings Channel reports. The fund owned 19,007 shares of the financial services provider’s stock after selling 1,216 shares during the period. Partnervest Advisory Services LLC’s holdings in Main Street Capital were worth $727,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MAIN. Muzinich & Co. Inc. increased its stake in shares of Main Street Capital by 83.4% in the first quarter. Muzinich & Co. Inc. now owns 2,179,673 shares of the financial services provider’s stock valued at $83,416,000 after buying an additional 991,007 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Main Street Capital during the first quarter valued at about $12,791,000. Blair William & Co. IL bought a new stake in shares of Main Street Capital during the first quarter valued at about $4,257,000. California Public Employees Retirement System increased its stake in shares of Main Street Capital by 746.5% in the first quarter. California Public Employees Retirement System now owns 107,500 shares of the financial services provider’s stock valued at $4,114,000 after buying an additional 94,800 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Main Street Capital by 33.1% in the first quarter. Van ECK Associates Corp now owns 310,470 shares of the financial services provider’s stock valued at $11,882,000 after buying an additional 77,273 shares in the last quarter. Institutional investors and hedge funds own 25.83% of the company’s stock.

Shares of Main Street Capital Co. (NYSE:MAIN) traded down 0.73% during mid-day trading on Wednesday, reaching $38.12. The company had a trading volume of 292,025 shares. The company’s 50-day moving average is $39.05 and its 200 day moving average is $37.43. The stock has a market capitalization of $2.13 billion, a P/E ratio of 13.20 and a beta of 1.10. Main Street Capital Co. has a 52-week low of $31.72 and a 52-week high of $40.86.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 4th. The financial services provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The firm had revenue of $47.90 million for the quarter, compared to the consensus estimate of $47.24 million. Main Street Capital had a net margin of 56.26% and a return on equity of 10.38%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Analysts anticipate that Main Street Capital Co. will post $2.24 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 21st will be issued a $0.185 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.22 annualized dividend and a yield of 5.82%. Main Street Capital’s dividend payout ratio (DPR) is presently 116.84%.

Several analysts recently issued reports on the company. Vetr upgraded Main Street Capital from a “hold” rating to a “buy” rating and set a $40.90 price target for the company in a report on Wednesday, May 10th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Main Street Capital in a report on Wednesday, May 10th. Citigroup Inc downgraded Main Street Capital from a “market perform” rating to an “underperform” rating in a report on Wednesday, May 10th. They noted that the move was a valuation call. FBR & Co reiterated a “hold” rating and issued a $38.00 price target on shares of Main Street Capital in a report on Tuesday, February 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target (up from $35.00) on shares of Main Street Capital in a report on Thursday, May 18th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Main Street Capital has an average rating of “Hold” and an average target price of $38.13.

Main Street Capital Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MAIN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding MAIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Main Street Capital Co. (NYSE:MAIN).

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