Innova Wealth Partners Makes New $497,000 Investment in Main Street Capital Co. (NYSE:MAIN)

Innova Wealth Partners acquired a new stake in Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,485 shares of the financial services provider’s stock, valued at approximately $497,000.

A number of other large investors have also made changes to their positions in MAIN. Franklin Resources Inc. raised its holdings in Main Street Capital by 19.3% in the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after acquiring an additional 35,227 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Main Street Capital by 238.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 34,020 shares of the financial services provider’s stock valued at $1,718,000 after purchasing an additional 23,970 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Main Street Capital by 9.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 209,924 shares of the financial services provider’s stock worth $10,526,000 after buying an additional 18,059 shares during the period. Janney Montgomery Scott LLC boosted its stake in Main Street Capital by 188.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,176 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 13,177 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Main Street Capital in the 3rd quarter valued at about $1,029,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley increased their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on 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 Price Performance

MAIN stock opened at $58.41 on Wednesday. The company has a market cap of $5.15 billion, a PE ratio of 10.58 and a beta of 1.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $54.67 and a two-hundred day moving average price of $51.83. Main Street Capital Co. has a 12-month low of $42.68 and a 12-month high of $60.19.

Main Street Capital Announces Dividend

The company also recently announced a dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 20th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, December 20th. Main Street Capital’s payout ratio is currently 54.35%.

Main Street Capital Company 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.