D.B. Root & Company LLC Purchases Shares of 11,608 Main Street Capital Corporation $MAIN

D.B. Root & Company LLC purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,608 shares of the financial services provider’s stock, valued at approximately $602,000.

Several other institutional investors have also recently modified their holdings of MAIN. Garner Asset Management Corp purchased a new stake in Main Street Capital in the 4th quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Main Street Capital in the second quarter valued at $28,000. Smartleaf Asset Management LLC boosted its stake in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. Sankala Group LLC purchased a new stake in Main Street Capital during the 4th quarter worth about $29,000. Finally, Gilpin Wealth Management LLC acquired a new position in Main Street Capital in the 4th quarter valued at about $31,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MAIN shares. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Royal Bank Of Canada decreased their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, Truist Financial upped their target price on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Main Street Capital has an average rating of “Hold” and an average price target of $60.83.

Insider Activity at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the sale, the executive vice president directly owned 196,185 shares in the company, valued at $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ryan Mchugh acquired 2,550 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $59.05 per share, with a total value of $150,577.50. Following the transaction, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.83% of the stock is owned by insiders.

Main Street Capital Stock Up 0.1%

Shares of MAIN opened at $58.33 on Monday. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.34. The company’s fifty day moving average is $54.16 and its two-hundred day moving average is $54.64. The firm has a market cap of $5.45 billion, a PE ratio of 11.76 and a beta of 0.71. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data 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. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The company had revenue of $327.56 million for the quarter, compared to the consensus estimate of $144.59 million. Analysts forecast that Main Street Capital Corporation will post 3.77 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be given a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s payout ratio is 64.11%.

About Main Street Capital

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.