Mackenzie Financial Corp Purchases Shares of 10,214 Main Street Capital Corporation (NYSE:MAIN)

Key Points

• Mackenzie Financial Corp purchased 10,214 shares of Main Street Capital, valued at around $578,000, during the first quarter, as reported in their Form 13F filing.
• Main Street Capital recently declared a monthly dividend of $0.255, set to be paid on December 15th, providing an annualized yield of 4.8%.
• The company reported earnings of $1.01 per share for the last quarter, surpassing analysts' expectations; however, revenue was slightly below predictions at $137.05 million.

Mackenzie Financial Corp purchased a new position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,214 shares of the financial services provider's stock, valued at approximately $578,000.

A number of other large investors have also bought and sold shares of MAIN. LPL Financial LLC raised its stake in Main Street Capital by 2.7% in the first quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock worth $17,385,000 after buying an additional 8,203 shares in the last quarter. Texas Yale Capital Corp. boosted its holdings in Main Street Capital by 5.5% in the first quarter. Texas Yale Capital Corp. now owns 85,097 shares of the financial services provider's stock worth $4,813,000 after acquiring an additional 4,401 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Main Street Capital by 13.8% in the first quarter. HB Wealth Management LLC now owns 11,007 shares of the financial services provider's stock worth $623,000 after acquiring an additional 1,332 shares during the last quarter. Hamilton Point Investment Advisors LLC increased its holdings in shares of Main Street Capital by 0.7% during the first quarter. Hamilton Point Investment Advisors LLC now owns 118,394 shares of the financial services provider's stock valued at $6,696,000 after acquiring an additional 803 shares in the last quarter. Finally, Kovack Advisors Inc. raised its position in shares of Main Street Capital by 9.9% in the 1st quarter. Kovack Advisors Inc. now owns 4,851 shares of the financial services provider's stock worth $274,000 after purchasing an additional 438 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a report on Monday, May 12th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. UBS Group restated a "neutral" rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, B. Riley upgraded shares of Main Street Capital to a "hold" rating in a report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $53.60.

Insider Buying and Selling

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The sale 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 Price Performance

Shares of NYSE:MAIN traded up $2.07 during trading on Friday, reaching $65.60. The stock had a trading volume of 762,277 shares, compared to its average volume of 552,332. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10. The business has a fifty day moving average price of $61.13 and a 200-day moving average price of $58.31. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $66.39. The stock has a market cap of $5.84 billion, a PE ratio of 11.14 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The company had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. On average, equities analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.255 dividend. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital's payout ratio is presently 51.95%.

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.