Delta Investment Management LLC Purchases 5,563 Shares of Main Street Capital Co. (NYSE:MAIN)

Delta Investment Management LLC boosted its position in Main Street Capital Co. (NYSE:MAIN) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,280 shares of the financial services provider’s stock after acquiring an additional 5,563 shares during the period. Delta Investment Management LLC’s holdings in Main Street Capital were worth $1,539,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MAIN. Asset Planning Inc acquired a new position in Main Street Capital during the 4th quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new position in Main Street Capital in the fourth quarter valued at approximately $45,000. Colonial Trust Advisors bought a new position in Main Street Capital in the fourth quarter valued at approximately $46,000. Jones Financial Companies Lllp grew its holdings in Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 311 shares during the period. Finally, Signaturefd LLC grew its holdings in Main Street Capital by 34.2% during the 4th quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 381 shares during the period. Institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MAIN. Truist Financial cut their price target on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a research note on Monday, May 12th. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Finally, UBS Group decreased their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and an average target price of $52.80.

Main Street Capital Price Performance

Shares of MAIN stock opened at $56.07 on Tuesday. 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 12-month low of $45.00 and a 12-month high of $63.32. The firm has a fifty day moving average of $54.39 and a 200-day moving average of $56.44. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 10.16 and a beta of 0.86.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $137.05 million during the quarter, compared to analysts’ expectations of $137.50 million. On average, equities research analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s payout ratio is currently 50.93%.

Insider Buying and Selling

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at $23,357,636.55. The trade was a 22.97% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

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.