Adell Harriman & Carpenter Inc. Increases Stake in Main Street Capital Corporation (NYSE:MAIN)

Adell Harriman & Carpenter Inc. increased its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 447,642 shares of the financial services provider's stock after acquiring an additional 22,090 shares during the quarter. Main Street Capital comprises approximately 1.9% of Adell Harriman & Carpenter Inc.'s portfolio, making the stock its 16th biggest position. Adell Harriman & Carpenter Inc. owned 0.51% of Main Street Capital worth $25,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAIN. Spire Wealth Management purchased a new position in shares of Main Street Capital in the 1st quarter worth about $40,000. Kapitalo Investimentos Ltda bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $45,000. Colonial Trust Advisors bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $46,000. NBC Securities Inc. bought a new stake in shares of Main Street Capital during the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC grew its stake in shares of Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 1,056 shares during the period. Hedge funds and other institutional investors own 20.31% of the company's stock.

Insider Buying and Selling

In other news, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This trade represents 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 the SEC website. Company insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group lowered their price target on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. B. Riley raised Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, Truist Financial cut their target price on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $52.80.

Main Street Capital Trading Up 0.4%

MAIN stock traded up $0.26 during midday trading on Tuesday, reaching $60.99. The company's stock had a trading volume of 541,492 shares, compared to its average volume of 563,863. 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 stock has a fifty day simple moving average of $56.61 and a two-hundred day simple moving average of $57.39. Main Street Capital Corporation has a 1 year low of $45.00 and a 1 year high of $63.31. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 10.35 and a beta of 0.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. The business had revenue of $137.05 million for the quarter, compared to the consensus estimate of $137.50 million. On average, equities research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th will be paid a $0.255 dividend. This represents a yield of 5.18%. The ex-dividend date is Tuesday, July 8th. Main Street Capital's dividend payout ratio (DPR) 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.