Quantinno Capital Management LP bought a new stake in Main Street Capital Corporation (NYSE:MAIN – Free Report) during the first quarter, HoldingsChannel reports. The institutional investor bought 18,982 shares of the financial services provider’s stock, valued at approximately $1,005,000.
Several other large investors also recently modified their holdings of the stock. Garner Asset Management Corp purchased a new stake in shares of Main Street Capital during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its stake in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Sankala Group LLC bought a new position in Main Street Capital during the fourth quarter valued at $29,000. Gilpin Wealth Management LLC purchased a new stake in Main Street Capital in the fourth quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Main Street Capital by 181.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 565 shares of the financial services provider’s stock worth $34,000 after buying an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.
Analysts Set New Price Targets
MAIN has been the topic of a number of recent research reports. Citizens Jmp dropped their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Truist Financial lifted their price objective on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Weiss Ratings cut Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a report on Monday, August 10th. Finally, Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $60.83.
Insider Activity
In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $59.05 per share, with a total value of $150,577.50. Following the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.83% of the stock is owned by company insiders.
Main Street Capital Trading Down 0.8%
Shares of MAIN stock opened at $58.74 on Friday. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.84 and a beta of 0.71. The company’s fifty day simple moving average is $53.51 and its two-hundred day simple moving average is $54.91. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.06.
Main Street Capital (NYSE:MAIN – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $327.56 million during the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. As a group, analysts anticipate that Main Street Capital Corporation will post 3.78 earnings per share for the current year.
Main Street Capital Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a yield of 5.4%. Main Street Capital’s dividend payout ratio is 64.11%.
Main Street Capital Company Profile
Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.
Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.
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