Denali Advisors LLC Sells 3,369 Shares of Main Street Capital Corporation $MAIN

Denali Advisors LLC lowered its stake in Main Street Capital Corporation (NYSE:MAIN) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,199 shares of the financial services provider’s stock after selling 3,369 shares during the quarter. Main Street Capital makes up approximately 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 19th largest position. Denali Advisors LLC’s holdings in Main Street Capital were worth $8,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC bought a new position in shares of Main Street Capital in the first quarter worth about $39,000. Spire Wealth Management bought a new position in shares of Main Street Capital in the first quarter worth about $40,000. Wellington Shields & Co. LLC bought a new position in shares of Main Street Capital in the first quarter worth about $41,000. Quarry LP bought a new position in shares of Main Street Capital in the first quarter worth about $48,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Main Street Capital in the first quarter worth about $58,000. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Down 0.1%

MAIN opened at $57.89 on Wednesday. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $63.64 and a 200-day moving average of $59.92. The stock has a market cap of $5.18 billion, a PE ratio of 9.54 and a beta of 0.87.

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

Main Street Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. 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 reports. Royal Bank Of Canada increased 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. Zacks Research downgraded Main Street Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Truist Financial lowered their price objective on Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. B. Riley upped their price objective on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.40.

Insider Transactions at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction 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 trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.09% of the company’s stock.

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.