Verity Asset Management Inc. Boosts Stock Position in Main Street Capital Corporation $MAIN

Verity Asset Management Inc. increased its stake in Main Street Capital Corporation (NYSE:MAIN) by 100.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,918 shares of the financial services provider’s stock after buying an additional 4,968 shares during the quarter. Verity Asset Management Inc.’s holdings in Main Street Capital were worth $586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC purchased a new position in shares of Main Street Capital in the 1st quarter worth about $39,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital in the first quarter valued at about $41,000. Quarry LP purchased a new position in Main Street Capital in the first quarter valued at about $48,000. Wealth Preservation Advisors LLC purchased a new position in Main Street Capital in the first quarter valued at about $58,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Main Street Capital in the first quarter valued at approximately $61,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAIN has been the topic of several research analyst reports. 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. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Main Street Capital in a research report on Tuesday, October 14th. Zacks Research cut Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.40.

Main Street Capital Stock Performance

Shares of MAIN opened at $57.01 on Monday. The stock’s 50-day simple moving average is $62.29 and its 200 day simple moving average is $60.36. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week 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. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Research analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 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.