Adell Harriman & Carpenter Inc. Has $25.32 Million Stock Holdings in Main Street Capital Corporation (NYSE:MAIN)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Main Street Capital in the 4th quarter valued at about $957,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Main Street Capital by 270.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider's stock valued at $545,000 after purchasing an additional 6,793 shares during the period. AssuredPartners Investment Advisors LLC acquired a new position in shares of Main Street Capital in the 4th quarter valued at about $385,000. Segment Wealth Management LLC raised its stake in Main Street Capital by 134.3% during the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock worth $6,674,000 after buying an additional 67,626 shares during the period. Finally, Atria Investments Inc acquired a new position in Main Street Capital during the 4th quarter worth approximately $754,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. This represents a 7.00% 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. Company insiders own 4.00% of the company's stock.

Analyst Ratings Changes

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

Main Street Capital Stock Performance

Shares of MAIN opened at $61.00 on Friday. 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 50 day moving average price of $56.48 and a two-hundred day moving average price of $57.33. The firm has a market capitalization of $5.43 billion, a P/E ratio of 10.36 and a beta of 0.82. Main Street Capital Corporation has a 52 week low of $45.00 and a 52 week high of $63.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. The company had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. Equities analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th will be issued a dividend of $0.255 per share. This represents a yield of 5.18%. The ex-dividend date of this dividend is Tuesday, July 8th. Main Street Capital's dividend payout ratio (DPR) is 50.93%.

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.

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