Sigma Planning Corp Has $1.40 Million Stake in Main Street Capital Corporation $MAIN

Sigma Planning Corp reduced its stake in shares of Main Street Capital Corporation (NYSE:MAIN) by 23.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,001 shares of the financial services provider’s stock after selling 8,491 shares during the period. Sigma Planning Corp’s holdings in Main Street Capital were worth $1,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Corient Private Wealth LLC increased its holdings in shares of Main Street Capital by 3,880.8% during the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after purchasing an additional 868,092 shares during the period. Legal & General Group Plc bought a new stake in shares of Main Street Capital in the second quarter valued at about $43,323,000. UBS Group AG grew its position in Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after buying an additional 534,374 shares in the last quarter. BlackRock Inc. bought a new position in Main Street Capital during the second quarter valued at about $20,940,000. Finally, Goldman Sachs Group Inc. increased its stake in Main Street Capital by 637.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock valued at $21,547,000 after acquiring an additional 308,404 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Transactions at Main Street Capital

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

Analysts Set New Price Targets

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

Main Street Capital Trading Up 0.6%

MAIN opened at $58.91 on Tuesday. The firm has a 50 day simple moving average of $55.09 and a 200 day simple moving average of $54.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 11.88 and a beta of 0.71. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.34.

Main Street Capital (NYSE:MAIN) last announced 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. The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. On average, sell-side analysts anticipate that Main Street Capital Corporation will post 3.77 earnings per share for the current year.

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders 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) annualized dividend and a dividend yield of 5.4%. Main Street Capital’s 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.