Fund Advisors of America Inc FL acquired a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,752 shares of the financial services provider's stock, valued at approximately $2,996,000. Main Street Capital accounts for 2.7% of Fund Advisors of America Inc FL's investment portfolio, making the stock its 7th largest position. Fund Advisors of America Inc FL owned about 0.06% of Main Street Capital at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of MAIN. Allworth Financial LP bought a new stake in shares of Main Street Capital in the 2nd quarter valued at about $658,000. Vise Technologies Inc. acquired a new stake in shares of Main Street Capital in the second quarter valued at about $608,000. Csenge Advisory Group bought a new position in shares of Main Street Capital during the second quarter worth about $321,000. NewEdge Wealth LLC acquired a new position in shares of Main Street Capital in the second quarter worth approximately $757,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Main Street Capital in the second quarter worth approximately $253,000. 20.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
MAIN has been the topic of several analyst reports. Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Citigroup restated a "market outperform" rating on shares of Main Street Capital in a report on Monday, August 10th. Royal Bank Of Canada dropped 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 report on Thursday, May 14th. Wells Fargo & Company upped their price objective on shares of Main Street Capital from $50.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Finally, Weiss Ratings lowered Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and a consensus price target of $60.83.
Read Our Latest Analysis on MAIN
Main Street Capital Stock Performance
Shares of MAIN stock opened at $58.33 on Friday. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 11.76 and a beta of 0.71. Main Street Capital Corporation has a 52 week low of $48.95 and a 52 week high of $67.34. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $54.16 and a 200-day moving average of $54.70.
Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $327.56 million for 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, equities analysts forecast that Main Street Capital Corporation will post 3.77 earnings per share for the current year.
Main Street Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a $0.265 dividend. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital's payout ratio is 64.11%.
Insider Activity
In other news, EVP Jason B. Beauvais sold 6,830 shares of the company'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 transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ryan Mchugh acquired 2,550 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the transaction, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.83% of the stock is currently owned by corporate insiders.
Main Street Capital Company Profile
(
Free Report)
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.
Further Reading
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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