Venturi Wealth Management LLC Reduces Holdings in Main Street Capital Corporation $MAIN

Venturi Wealth Management LLC lowered its position in Main Street Capital Corporation (NYSE:MAIN) by 58.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Main Street Capital by 50.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock valued at $468,000 after buying an additional 2,756 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Main Street Capital by 10.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock valued at $13,736,000 after buying an additional 22,340 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Main Street Capital in the first quarter valued at approximately $578,000. Segment Wealth Management LLC boosted its position in Main Street Capital by 134.3% in the first quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock valued at $6,674,000 after buying an additional 67,626 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Main Street Capital in the first quarter valued at approximately $6,205,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Buying and Selling

In related news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Main Street Capital Trading Down 1.9%

Shares of MAIN stock opened at $60.58 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 9.98 and a beta of 0.87. The stock has a 50 day simple moving average of $64.95 and a 200-day simple moving average of $59.86. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77.

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

Main Street Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital’s dividend payout ratio is currently 50.41%.

Analyst Ratings Changes

A number of equities research analysts recently commented on MAIN shares. Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. B. Riley upped their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. UBS Group restated a “neutral” rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Main Street Capital currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

Main Street Capital 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.