Prospera Financial Services Inc Has $364,000 Stock Position in Main Street Capital Co. (NYSE:MAIN)

Posted by Defense World Staff on May 14th, 2023

Prospera Financial Services Inc increased its stake in shares of Main Street Capital Co. (NYSE:MAIN – Get Rating) by 39.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,842 shares of the financial services provider’s stock after acquiring an additional 2,772 shares during the quarter. Prospera Financial Services Inc’s holdings in Main Street Capital were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MAIN. Price T Rowe Associates Inc. MD increased its position in Main Street Capital by 250.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,501,374 shares of the financial services provider’s stock worth $96,378,000 after acquiring an additional 1,788,197 shares during the period. Two Sigma Investments LP bought a new position in Main Street Capital during the third quarter worth $5,518,000. Adell Harriman & Carpenter Inc. bought a new position in Main Street Capital during the fourth quarter worth $3,712,000. Atria Wealth Solutions Inc. bought a new position in Main Street Capital during the first quarter worth $3,102,000. Finally, Van ECK Associates Corp increased its position in Main Street Capital by 12.0% during the fourth quarter. Van ECK Associates Corp now owns 662,192 shares of the financial services provider’s stock worth $24,468,000 after acquiring an additional 71,092 shares during the period. Institutional investors own 18.79% of the company’s stock.

Main Street Capital Stock Down 0.8 %

Shares of NYSE:MAIN opened at $39.60 on Friday. Main Street Capital Co. has a 52 week low of $31.66 and a 52 week high of $45.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.07 and a current ratio of 0.07. The company’s fifty day moving average is $39.69 and its 200-day moving average is $38.82. The company has a market capitalization of $3.19 billion, a PE ratio of 11.96 and a beta of 1.30.

Main Street Capital (NYSE:MAIN – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The business had revenue of $113.88 million for the quarter, compared to the consensus estimate of $107.58 million. Main Street Capital had a net margin of 61.28% and a return on equity of 13.49%.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.76 annualized dividend and a yield of 6.97%. Main Street Capital’s dividend payout ratio (DPR) is 81.57%.

Insider Buying and Selling

In related news, Director Nicholas Meserve sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $39.50, for a total transaction of $118,500.00. Following the transaction, the director now owns 80,689 shares in the company, valued at approximately $3,187,215.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Main Street Capital news, EVP Jason B. Beauvais sold 6,800 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $39.41, for a total transaction of $267,988.00. Following the transaction, the executive vice president now directly owns 160,037 shares in the company, valued at approximately $6,307,058.17. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nicholas Meserve sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $39.50, for a total transaction of $118,500.00. Following the transaction, the director now owns 80,689 shares in the company, valued at $3,187,215.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,694 shares of company stock worth $619,006 in the last 90 days. Corporate insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Main Street Capital in a report on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet raised shares of Main Street Capital from a “c+” rating to a “b-” rating in a report on Monday, February 6th. Oppenheimer boosted their price target on shares of Main Street Capital from $39.00 to $41.00 and gave the company a “market perform” rating in a report on Monday, February 27th. Truist Financial boosted their price target on shares of Main Street Capital from $40.00 to $43.00 and gave the company a “hold” rating in a report on Tuesday, February 28th. Finally, B. Riley boosted their price target on shares of Main Street Capital from $45.00 to $46.00 in a report on Monday, May 8th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $42.67.

Main Street Capital Profile

(Get Rating)

Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.