109,186 Shares in Main Street Capital Corporation $MAIN Bought by Beacon Pointe Advisors LLC

Key Points

• Beacon Pointe Advisors bought 109,186 shares of Main Street Capital valued at approximately $5.7 million, while institutional investors collectively own 20.31% of the company.
• Main Street Capital reported quarterly EPS of $0.97, slightly above the $0.96 consensus estimate, and declared a monthly dividend of $0.265 per share, implying a 5.4% annualized yield.
• The stock opened at $58.58, near analysts’ consensus price target of $60.83. Despite three Buy ratings, seven analysts rate the shares Hold, resulting in an overall consensus rating of Hold.

Beacon Pointe Advisors LLC purchased a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,186 shares of the financial services provider's stock, valued at approximately $5,665,000. Beacon Pointe Advisors LLC owned about 0.12% of Main Street Capital as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. raised its position in Main Street Capital by 5.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider's stock valued at $28,893,000 after acquiring an additional 23,942 shares in the last quarter. Entropy Technologies LP purchased a new stake in Main Street Capital in the 1st quarter worth approximately $1,964,000. Brighton Jones LLC purchased a new stake in Main Street Capital during the fourth quarter worth $304,000. Legal & General Group Plc boosted its holdings in Main Street Capital by 15.2% during the fourth quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider's stock worth $43,479,000 after buying an additional 95,177 shares in the last quarter. Finally, LGT Fund Management Co Ltd. acquired a new stake in Main Street Capital during the first quarter valued at $1,470,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Main Street Capital Stock Performance

NYSE:MAIN opened at $58.58 on Friday. The company has a market cap of $5.48 billion, a P/E ratio of 11.81 and a beta of 0.71. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.34. The company's 50-day moving average price is $54.92 and its 200-day moving average price is $54.60. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. On average, sell-side analysts forecast that Main Street Capital Corporation will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The business 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 is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a yield of 5.4%. Main Street Capital's dividend payout ratio (DPR) is presently 64.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAIN shares. Wells Fargo & Company upped their price objective on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Weiss Ratings downgraded Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Citigroup reissued a "market outperform" rating on shares of Main Street Capital in a report on Monday, August 10th. Finally, Royal Bank Of Canada reduced their target price on Main Street Capital from $66.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.83.

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.

Want to see what other hedge funds are holding MAIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Main Street Capital Corporation (NYSE:MAIN - Free Report).

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