Delta Investment Management LLC Purchases 5,563 Shares of Main Street Capital Co. (NYSE:MAIN)

Delta Investment Management LLC increased its position in shares of Main Street Capital Co. (NYSE:MAIN) by 26.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,280 shares of the financial services provider’s stock after buying an additional 5,563 shares during the period. Delta Investment Management LLC’s holdings in Main Street Capital were worth $1,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Squarepoint Ops LLC lifted its holdings in shares of Main Street Capital by 44.0% during the fourth quarter. Squarepoint Ops LLC now owns 24,875 shares of the financial services provider’s stock worth $1,457,000 after buying an additional 7,598 shares during the last quarter. ProShare Advisors LLC raised its stake in Main Street Capital by 17.7% during the 4th quarter. ProShare Advisors LLC now owns 15,434 shares of the financial services provider’s stock valued at $904,000 after purchasing an additional 2,322 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Main Street Capital in the 4th quarter valued at $3,993,000. Kaizen Financial Strategies acquired a new stake in Main Street Capital in the 4th quarter worth $213,000. Finally, Focus Partners Wealth increased its holdings in shares of Main Street Capital by 9.6% during the 4th quarter. Focus Partners Wealth now owns 8,790 shares of the financial services provider’s stock worth $521,000 after purchasing an additional 768 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Main Street Capital

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

Analysts Set New Price Targets

A number of research firms recently weighed in on MAIN. UBS Group decreased their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Truist Financial decreased their price objective on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. Finally, Oppenheimer restated a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.80.

Main Street Capital Trading Up 1.4%

Shares of MAIN opened at $56.07 on Tuesday. The stock has a 50 day simple moving average of $54.39 and a 200-day simple moving average of $56.44. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $4.99 billion, a PE ratio of 10.16 and a beta of 0.86. 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 released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million. On average, sell-side analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.255 per share. This represents a $3.06 annualized dividend and a yield of 5.46%. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Monday, September 8th. Main Street Capital’s dividend payout ratio is currently 50.93%.

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.