Main Street Capital Corporation $MAIN Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC cut its stake in Main Street Capital Corporation (NYSE:MAIN) by 58.8% in the second quarter, Holdings Channel reports. The fund owned 15,583 shares of the financial services provider’s stock after selling 22,238 shares during the period. Venturi Wealth Management LLC’s holdings in Main Street Capital were worth $921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Global Assets Advisory LLC acquired a new stake in shares of Main Street Capital in the 2nd quarter worth $225,000. Segment Wealth Management LLC increased its stake in shares of Main Street Capital by 1.2% in the 2nd quarter. Segment Wealth Management LLC now owns 119,468 shares of the financial services provider’s stock worth $7,061,000 after acquiring an additional 1,474 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Main Street Capital in the 2nd quarter worth $167,000. Trinity Legacy Partners LLC increased its stake in shares of Main Street Capital by 1.4% in the 2nd quarter. Trinity Legacy Partners LLC now owns 188,723 shares of the financial services provider’s stock worth $12,154,000 after acquiring an additional 2,581 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc acquired a new stake in shares of Main Street Capital in the 2nd quarter worth $237,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $60.58 on Thursday. The business has a 50-day moving average of $64.95 and a 200 day moving average of $59.86. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 9.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS 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 company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. As a group, sell-side analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 8th. Main Street Capital’s dividend payout ratio (DPR) is 50.41%.

Wall Street Analysts Forecast Growth

MAIN has been the subject of a number of research analyst reports. Truist Financial increased their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, August 11th. B. Riley increased their price target on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. UBS Group reiterated a “neutral” rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Main Street Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Buying and Selling

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.

About Main Street Capital

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.