Main Street Capital Co. (NYSE:MAIN) Shares Sold by Capital Investment Advisors LLC

Capital Investment Advisors LLC decreased its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,798 shares of the financial services provider’s stock after selling 309 shares during the quarter. Capital Investment Advisors LLC owned about 0.06% of Main Street Capital worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Park Avenue Securities LLC lifted its holdings in shares of Main Street Capital by 89.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 3,396 shares in the last quarter. Freedom Financial Partners LLC lifted its holdings in shares of Main Street Capital by 7.2% during the 1st quarter. Freedom Financial Partners LLC now owns 4,882 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 330 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Main Street Capital during the 1st quarter valued at $212,000. Milestone Asset Management LLC lifted its holdings in shares of Main Street Capital by 11.5% during the 1st quarter. Milestone Asset Management LLC now owns 11,586 shares of the financial services provider’s stock valued at $655,000 after acquiring an additional 1,194 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Main Street Capital during the 1st quarter valued at $54,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

NYSE MAIN opened at $57.53 on Monday. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 10.42 and a beta of 0.82. The company has a 50-day moving average price of $54.11 and a two-hundred day moving average price of $56.86.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million during the quarter, compared to analysts’ expectations of $137.50 million. Analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.255 dividend. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 annualized dividend and a yield of 5.32%. Main Street Capital’s dividend payout ratio is 50.93%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAIN. Oppenheimer reaffirmed a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 31st. UBS Group cut their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial cut their price objective on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $52.80.

Insiders Place Their Bets

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

Main Street Capital Company 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.