Main Street Capital Corporation $MAIN Shares Sold by Brighton Jones LLC

Brighton Jones LLC reduced its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,376 shares of the financial services provider’s stock after selling 416 shares during the quarter. Brighton Jones LLC’s holdings in Main Street Capital were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares during the last quarter. Invesco Ltd. raised its holdings in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after purchasing an additional 393,101 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its position in shares of Main Street Capital by 5.2% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider’s stock worth $25,319,000 after buying an additional 22,090 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Main Street Capital by 3.2% during the 2nd quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider’s stock worth $20,438,000 after buying an additional 10,819 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Main Street Capital by 2.7% in the 1st quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider’s stock valued at $17,385,000 after buying an additional 8,203 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Analyst Ratings Changes

MAIN has been the topic of several research analyst reports. UBS Group reiterated a “neutral” rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Truist Financial reduced their target price on Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. B. Riley lifted their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada raised their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and an average target price of $60.40.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Main Street Capital Stock Down 2.6%

Shares of NYSE:MAIN opened at $56.21 on Friday. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $62.45 and its 200-day simple moving average is $60.23. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 9.26 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. As a group, equities research analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. Main Street Capital’s dividend payout ratio (DPR) is 50.41%.

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.