Main Street Capital Corporation $MAIN Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 38.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,044 shares of the financial services provider’s stock after selling 3,217 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Main Street Capital were worth $298,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MAIN. Brighton Jones LLC acquired a new position in Main Street Capital during the 4th quarter worth about $304,000. GAMMA Investing LLC lifted its stake in Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 1,056 shares in the last quarter. Merit Financial Group LLC acquired a new position in Main Street Capital during the 1st quarter worth about $212,000. Park Avenue Securities LLC lifted its stake in Main Street Capital by 89.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock worth $406,000 after acquiring an additional 3,396 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Main Street Capital by 11.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,742 shares of the financial services provider’s stock worth $3,718,000 after acquiring an additional 6,787 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred 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 in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. B. Riley increased their price target on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Truist Financial increased their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Moderate Buy” and an average target price of $61.20.

Main Street Capital Trading Down 3.4%

MAIN opened at $55.13 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 9.08 and a beta of 0.87. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77. The business’s 50 day moving average is $64.62 and its two-hundred day moving average is $59.82. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. On average, research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, October 8th. Main Street Capital’s dividend payout ratio (DPR) is 50.41%.

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.