22,064 Shares in Main Street Capital Corporation $MAIN Acquired by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in Main Street Capital Corporation (NYSE:MAIN) during the second quarter, HoldingsChannel.com reports. The fund acquired 22,064 shares of the financial services provider’s stock, valued at approximately $1,145,000.

A number of other institutional investors also recently bought and sold shares of the business. Garner Asset Management Corp purchased a new position in shares of Main Street Capital in the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB acquired a new stake in Main Street Capital in the second quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. Sankala Group LLC acquired a new stake in shares of Main Street Capital in the fourth quarter valued at about $29,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Main Street Capital during the 4th quarter worth approximately $31,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MAIN. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a report on Monday, August 10th. Royal Bank Of Canada cut their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Weiss Ratings upgraded Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.83.

Main Street Capital Stock Down 0.5%

NYSE:MAIN opened at $57.78 on Friday. The company’s fifty day moving average price is $55.70 and its 200-day moving average price is $54.50. The firm has a market capitalization of $5.40 billion, a P/E ratio of 11.65 and a beta of 0.72. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The business had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. As a group, equities research analysts anticipate that Main Street Capital Corporation will post 3.77 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a yield of 5.5%. Main Street Capital’s dividend payout ratio (DPR) is presently 64.11%.

Insiders Place Their Bets

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the purchase, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. This trade represents a 12.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jason Beauvais sold 6,830 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president directly owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.83% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.