MGO One Seven LLC Acquires New Stake in Main Street Capital Co. (NYSE:MAIN)

MGO One Seven LLC bought a new position in Main Street Capital Co. (NYSE:MAIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,289 shares of the financial services provider’s stock, valued at approximately $251,000.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Main Street Capital by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after buying an additional 92,833 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in shares of Main Street Capital by 1.5% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider’s stock worth $24,929,000 after acquiring an additional 6,297 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Main Street Capital by 1.6% during the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock worth $17,525,000 after acquiring an additional 4,740 shares during the last quarter. Paradiem LLC increased its stake in shares of Main Street Capital by 0.3% in the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock worth $16,437,000 after purchasing an additional 732 shares in the last quarter. Finally, Muzinich & Co. Inc. raised its holdings in Main Street Capital by 5.0% in the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider’s stock worth $13,062,000 after purchasing an additional 10,593 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Insider Activity

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

Main Street Capital Stock Performance

NYSE MAIN opened at $54.22 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The business has a 50-day moving average price of $55.85 and a 200-day moving average price of $56.21. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 9.82 and a beta of 0.98.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 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 business had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. As a group, equities research analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on MAIN. UBS Group cut their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Truist Financial boosted their price objective on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and a consensus target price of $52.60.

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.