AdvisorNet Financial Inc Buys 933 Shares of Main Street Capital Corporation $MAIN

AdvisorNet Financial Inc raised its stake in Main Street Capital Corporation (NYSE:MAIN) by 71.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,244 shares of the financial services provider’s stock after acquiring an additional 933 shares during the period. AdvisorNet Financial Inc’s holdings in Main Street Capital were worth $133,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Main Street Capital in the 1st quarter worth about $39,000. Spire Wealth Management bought a new stake in shares of Main Street Capital in the 1st quarter worth about $40,000. Wellington Shields & Co. LLC bought a new stake in shares of Main Street Capital in the 1st quarter worth about $41,000. Quarry LP bought a new stake in shares of Main Street Capital in the 1st quarter worth about $48,000. Finally, NBC Securities Inc. bought a new stake in shares of Main Street Capital in the 1st quarter worth about $54,000. 20.31% of the stock is currently owned by institutional investors.

Insider Transactions at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. B. Riley lifted their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Truist Financial lifted their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. Finally, Zacks Research raised shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.20.

Main Street Capital Price Performance

Main Street Capital stock opened at $63.74 on Friday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 10.50 and a beta of 0.88. 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 Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The firm has a 50-day moving average of $65.32 and a two-hundred day moving average of $59.49.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. On average, research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital’s payout ratio is 50.41%.

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.