Main Street Capital Co. (NYSE:MAIN) Shares Acquired by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC grew its stake in Main Street Capital Co. (NYSE:MAIN) by 4.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,910 shares of the financial services provider’s stock after acquiring an additional 386 shares during the period. Virtus ETF Advisers LLC’s holdings in Main Street Capital were worth $581,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MAIN. Raymond James Financial Inc. purchased a new stake in Main Street Capital in the fourth quarter valued at approximately $10,460,000. Invesco Ltd. grew its stake in shares of Main Street Capital by 470.4% in the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock valued at $8,152,000 after buying an additional 114,768 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Main Street Capital in the fourth quarter valued at $6,059,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Main Street Capital in the 4th quarter valued at $6,007,000. Finally, Van ECK Associates Corp lifted its stake in Main Street Capital by 7.8% during the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after acquiring an additional 92,833 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $54.13 on Friday. The stock’s 50-day moving average is $56.19 and its two-hundred day moving average is $56.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 9.81 and a beta of 0.98. Main Street Capital Co. has a 1-year low of $45.00 and a 1-year high of $63.32.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 21st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a dividend yield of 7.11%. This is an increase from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s payout ratio is presently 51.37%.

Insider Activity at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MAIN has been the subject of several research reports. UBS Group dropped their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Truist Financial lifted their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.60.

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.