GWN Securities Inc. Takes $424,000 Position in Main Street Capital Corporation $MAIN

GWN Securities Inc. purchased a new position in shares of Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,178 shares of the financial services provider’s stock, valued at approximately $424,000.

Several other large investors have also modified their holdings of MAIN. Financial Network Wealth Advisors LLC purchased a new stake in shares of Main Street Capital during the first quarter worth approximately $39,000. Spire Wealth Management purchased a new stake in shares of Main Street Capital during the first quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new stake in shares of Main Street Capital during the first quarter worth approximately $41,000. Quarry LP purchased a new stake in shares of Main Street Capital during the first quarter worth approximately $48,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Main Street Capital during the first quarter worth approximately $58,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MAIN has been the subject of several analyst reports. Weiss Ratings restated a “buy (b+)” rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Zacks Research cut Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Truist Financial cut their price objective on Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. UBS Group reiterated a “neutral” rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada increased their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.40.

Main Street Capital Trading Up 0.4%

NYSE:MAIN opened at $58.47 on Wednesday. The stock has a fifty day moving average price of $62.79 and a two-hundred day moving average price of $60.22. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 9.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results 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 business had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. As a group, sell-side analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th were given a $0.30 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. Main Street Capital’s dividend payout ratio (DPR) is currently 50.41%.

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.