BIP Wealth LLC Invests $207,000 in Main Street Capital Corporation $MAIN

BIP Wealth LLC purchased a new stake in shares of Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,500 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other large investors have also recently added to or reduced their stakes in MAIN. Financial Network Wealth Advisors LLC bought a new stake in Main Street Capital during the first quarter valued at $39,000. Spire Wealth Management bought a new position in shares of Main Street Capital in the 1st quarter worth about $40,000. Wellington Shields & Co. LLC acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $41,000. Quarry LP bought a new stake in shares of Main Street Capital during the 1st quarter valued at about $48,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Main Street Capital during the first quarter worth about $58,000. 20.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.00% of the company’s stock.

Main Street Capital Stock Down 0.1%

MAIN opened at $57.54 on Friday. The stock’s 50 day moving average price is $63.07 and its 200 day moving average price is $60.09. 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 stock has a market cap of $5.15 billion, a P/E ratio of 9.48 and a beta of 0.87. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77.

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

Main Street Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, October 8th. Main Street Capital’s dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

MAIN has been the subject of a number of research reports. UBS Group restated a “neutral” rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Zacks Research lowered Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Royal Bank Of Canada upped their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Main Street Capital in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.40.

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.