Lido Advisors LLC Has $1.18 Million Stock Position in Main Street Capital Co. (NYSE:MAIN)

Lido Advisors LLC lifted its stake in Main Street Capital Co. (NYSE:MAIN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,073 shares of the financial services provider’s stock after buying an additional 484 shares during the period. Lido Advisors LLC’s holdings in Main Street Capital were worth $1,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Planning Inc bought a new position in shares of Main Street Capital during the fourth quarter valued at $29,000. Colonial Trust Advisors acquired a new position in Main Street Capital in the fourth quarter valued at about $46,000. Wilmington Savings Fund Society FSB bought a new stake in Main Street Capital during the third quarter worth about $50,000. AdvisorNet Financial Inc increased its holdings in shares of Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock worth $72,000 after buying an additional 729 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Main Street Capital by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Insider Activity

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at $23,357,636.55. This trade represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Main Street Capital Trading Up 2.1 %

MAIN stock opened at $53.73 on Friday. The business has a fifty day moving average of $55.39 and a 200-day moving average of $56.22. The company has a market cap of $4.76 billion, a P/E ratio of 9.73 and a beta of 0.98. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, equities research analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 9th will be given a dividend of $0.25 per share. This represents a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, May 8th. Main Street Capital’s payout ratio is 51.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAIN. UBS Group cut their price objective on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Truist Financial upped their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.60.

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.