Meridian Wealth Management LLC Sells 3,288 Shares of Main Street Capital Co. (NYSE:MAIN)

Meridian Wealth Management LLC cut its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,747 shares of the financial services provider’s stock after selling 3,288 shares during the quarter. Meridian Wealth Management LLC owned approximately 0.12% of Main Street Capital worth $5,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Callahan Advisors LLC grew its holdings in shares of Main Street Capital by 1.3% in the second quarter. Callahan Advisors LLC now owns 15,429 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 200 shares in the last quarter. PFG Investments LLC raised its position in shares of Main Street Capital by 1.8% in the second quarter. PFG Investments LLC now owns 12,557 shares of the financial services provider’s stock worth $634,000 after buying an additional 227 shares in the last quarter. CAP Partners LLC increased its stake in Main Street Capital by 6.4% in the third quarter. CAP Partners LLC now owns 4,290 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 258 shares during the last quarter. Segment Wealth Management LLC increased its stake in Main Street Capital by 0.7% in the third quarter. Segment Wealth Management LLC now owns 43,512 shares of the financial services provider’s stock valued at $2,182,000 after acquiring an additional 287 shares during the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Main Street Capital by 13.5% during the second quarter. Harbour Investments Inc. now owns 2,868 shares of the financial services provider’s stock valued at $145,000 after buying an additional 342 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $53.39 on Friday. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 9.63 and a beta of 1.29. The company’s 50 day moving average is $51.21 and its 200 day moving average is $50.22. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a 52-week low of $41.18 and a 52-week high of $53.49.

Main Street Capital Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, December 20th. Main Street Capital’s payout ratio is currently 53.26%.

Analysts Set New Price Targets

MAIN has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. B. Riley raised their price target on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Oppenheimer boosted their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and an average price target of $48.80.

Main Street Capital Profile

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.