Denali Advisors LLC Has $9 Million Holdings in Main Street Capital Corporation $MAIN

Denali Advisors LLC lessened its stake in Main Street Capital Corporation (NYSE:MAIN) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,199 shares of the financial services provider’s stock after selling 3,369 shares during the quarter. Main Street Capital comprises approximately 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Denali Advisors LLC owned approximately 0.17% of Main Street Capital worth $8,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAIN. Jones Financial Companies Lllp increased its position in Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock valued at $33,405,000 after acquiring an additional 589,307 shares in the last quarter. Invesco Ltd. grew 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 buying an additional 393,101 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Main Street Capital during the 1st quarter worth approximately $6,205,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Main Street Capital during the 1st quarter worth approximately $4,840,000. Finally, J.W. Cole Advisors Inc. grew its position in shares of Main Street Capital by 272.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 84,925 shares of the financial services provider’s stock worth $4,803,000 after buying an additional 62,142 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Activity at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were 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 represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.09% of the company’s stock.

Main Street Capital Price Performance

Shares of MAIN opened at $57.89 on Wednesday. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 9.54 and a beta of 0.87. The company’s fifty day simple moving average is $63.64 and its 200 day simple moving average is $59.92. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th were paid a $0.30 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Main Street Capital’s dividend payout ratio is 50.41%.

Analysts Set New Price Targets

Several brokerages have recently commented on MAIN. Royal Bank Of Canada lifted their price target on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Truist Financial cut their price objective on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research report on Wednesday, October 15th. Zacks Research lowered shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, UBS Group restated a “neutral” rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.40.

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.