BIP Wealth LLC Makes New $207,000 Investment in Main Street Capital Corporation $MAIN

BIP Wealth LLC acquired a new stake in shares of Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,500 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other large investors have also made changes to their positions in the company. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital in the first quarter valued at $39,000. Spire Wealth Management acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC purchased a new stake in shares of Main Street Capital during the 1st quarter worth about $41,000. Quarry LP acquired a new stake in Main Street Capital during the 1st quarter worth approximately $48,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Main Street Capital during the 1st quarter worth approximately $58,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Trading Down 0.1%

NYSE:MAIN opened at $57.54 on Friday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 9.48 and a beta of 0.87. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The business’s 50-day simple moving average is $63.07 and its 200 day simple moving average is $60.09.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. As a group, sell-side analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

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

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.