Main Street Capital Corporation $MAIN Shares Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH raised its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,283 shares of the financial services provider’s stock after acquiring an additional 255 shares during the quarter. Erste Asset Management GmbH’s holdings in Main Street Capital were worth $186,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in MAIN. Invesco Ltd. boosted its position in shares of Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after acquiring an additional 393,101 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Main Street Capital during the 1st quarter worth about $6,205,000. First Trust Advisors LP acquired a new position in shares of Main Street Capital during the 4th quarter worth about $6,059,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Main Street Capital during the 1st quarter worth about $4,840,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Main Street Capital during the 4th quarter worth about $3,993,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Down 0.9%

MAIN opened at $65.0810 on Friday. The business has a 50 day moving average price of $62.86 and a two-hundred day moving average price of $58.64. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.82 billion, a PE ratio of 10.72 and a beta of 0.85. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The business had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, research analysts anticipate that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.255 dividend. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 50.41%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. B. Riley boosted their target price on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. Truist Financial boosted their target price on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a report on Monday, August 11th. UBS Group reissued a “neutral” rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and an average price target of $59.75.

Insider Activity at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares of the company’s stock, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

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.