MKT Advisors LLC Purchases New Shares in Main Street Capital Corporation $MAIN

MKT Advisors LLC purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,427 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other large investors have also added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV boosted its holdings in Main Street Capital by 2.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 221 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Main Street Capital by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider’s stock valued at $3,454,000 after acquiring an additional 229 shares in the last quarter. Uncommon Cents Investing LLC boosted its holdings in Main Street Capital by 1.4% in the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider’s stock valued at $917,000 after acquiring an additional 231 shares in the last quarter. Sigma Planning Corp boosted its holdings in Main Street Capital by 0.5% in the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock valued at $2,542,000 after acquiring an additional 236 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Main Street Capital by 9.4% in the first quarter. US Bancorp DE now owns 2,822 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 243 shares in the last quarter. Institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MAIN shares. Zacks Research upgraded shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Truist Financial raised their price objective on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. UBS Group reissued a “neutral” rating and set a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Main Street Capital has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Main Street Capital Price Performance

NYSE MAIN opened at $63.74 on Friday. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The stock has a 50-day moving average of $65.32 and a 200 day moving average of $59.49. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 10.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, sell-side analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. Main Street Capital’s payout ratio is 50.41%.

Insider Activity

In related news, Director Nicholas Meserve sold 14,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.00% of the company’s stock.

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.