Greenland Capital Management LP Purchases Shares of 16,000 Main Street Capital Corporation $MAIN

Greenland Capital Management LP acquired a new position in shares of Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,000 shares of the financial services provider’s stock, valued at approximately $830,000.

A number of other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Main Street Capital in the second quarter valued at approximately $152,000. Quantbot Technologies LP acquired a new stake in Main Street Capital during the 2nd quarter worth approximately $128,000. EP Wealth Advisors LLC acquired a new stake in Main Street Capital during the 2nd quarter worth approximately $248,000. Fund Advisors of America Inc FL bought a new stake in Main Street Capital in the 2nd quarter valued at $2,996,000. Finally, Allworth Financial LP acquired a new position in Main Street Capital in the 2nd quarter valued at $658,000. Institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MAIN shares. Truist Financial increased their price objective on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Royal Bank Of Canada decreased their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.83.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $58.33 on Friday. The stock has a market capitalization of $5.45 billion, a PE ratio of 11.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. The business has a fifty day moving average price of $54.16 and a two-hundred day moving average price of $54.70. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.34.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. As a group, equities analysts predict that Main Street Capital Corporation will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) annualized dividend and a yield of 5.5%. Main Street Capital’s dividend payout ratio is currently 64.11%.

Insider Activity

In other news, CAO Ryan Mchugh acquired 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This represents a 12.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares in the company, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.83% of the company’s stock.

Main Street Capital Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.