16,928 Shares in Main Street Capital Corporation $MAIN Acquired by Wedmont Private Capital

Wedmont Private Capital purchased a new position in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,928 shares of the financial services provider’s stock, valued at approximately $894,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Prospera Financial Services Inc raised its position in shares of Main Street Capital by 0.4% during the fourth quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider’s stock valued at $2,915,000 after buying an additional 194 shares during the last quarter. SMH Capital Advisors Inc. boosted its position in shares of Main Street Capital by 1.1% during the fourth quarter. SMH Capital Advisors Inc. now owns 18,884 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 206 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Main Street Capital by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock worth $325,000 after acquiring an additional 207 shares during the last quarter. Lido Advisors LLC grew its stake in Main Street Capital by 1.7% during the fourth quarter. Lido Advisors LLC now owns 12,520 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 209 shares in the last quarter. Finally, Freedom Financial Partners LLC grew its stake in Main Street Capital by 4.1% during the first quarter. Freedom Financial Partners LLC now owns 5,577 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 221 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Main Street Capital stock opened at $56.72 on Wednesday. Main Street Capital Corporation has a 52-week low of $48.95 and a 52-week high of $67.34. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $55.92 and its 200 day moving average is $54.43. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 11.43 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last issued 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 net margin of 78.49% and a return on equity of 11.80%. The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Sell-side analysts forecast that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. Main Street Capital’s dividend payout ratio (DPR) is presently 64.11%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. Citigroup restated a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Truist Financial boosted their target price on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada dropped their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $60.83.

Insider Activity

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

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.