MQS Management LLC Takes Position in Main Street Capital Corporation (NYSE:MAIN)

MQS Management LLC acquired a new position in shares of Main Street Capital Corporation (NYSE:MAIN) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,528 shares of the financial services provider’s stock, valued at approximately $539,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Spire Wealth Management acquired a new stake in Main Street Capital during the first quarter worth about $40,000. Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital in the 4th quarter worth approximately $45,000. Colonial Trust Advisors acquired a new stake in shares of Main Street Capital during the 4th quarter worth approximately $46,000. NBC Securities Inc. purchased a new position in shares of Main Street Capital during the 1st quarter valued at approximately $54,000. Finally, GAMMA Investing LLC lifted its stake in shares of Main Street Capital by 5,557.9% in the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,056 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the sale, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on MAIN shares. Truist Financial dropped their price target on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. B. Riley upgraded Main Street Capital to a “hold” rating in a research report on Monday, June 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. UBS Group dropped their price objective on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $52.80.

Main Street Capital Trading Up 1.2%

Shares of Main Street Capital stock opened at $62.97 on Monday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a twelve month low of $45.00 and a twelve month high of $63.37. The firm has a market capitalization of $5.61 billion, a PE ratio of 10.69 and a beta of 0.82. The firm’s 50-day moving average price is $57.27 and its 200 day moving average price is $57.52.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The business had revenue of $137.05 million for the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. On average, sell-side analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th will be paid a dividend of $0.255 per share. The ex-dividend date is Tuesday, July 8th. This represents a yield of 5.18%. Main Street Capital’s dividend payout ratio (DPR) is presently 51.95%.

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.