Apollon Wealth Management LLC Purchases 19,726 Shares of Main Street Capital Corporation $MAIN

Key Points

• Apollon Wealth Management acquired 19,726 Main Street Capital shares worth approximately $1.09 million in the third quarter. Institutional investors collectively own 20.31% of the company.
• Analyst sentiment is mixed, with five Buy ratings and six Hold ratings; the stock carries an overall “Hold” rating and an average price target of $61.
• Main Street Capital reported quarterly EPS of $0.97, slightly above estimates, and declared a monthly dividend of $0.265 per share, representing a 5.7% annualized yield.

Apollon Wealth Management LLC purchased a new position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,726 shares of the financial services provider's stock, valued at approximately $1,086,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAIN. Sequoia Financial Advisors LLC increased its position in Main Street Capital by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider's stock worth $325,000 after purchasing an additional 207 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Main Street Capital by 0.4% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 50,955 shares of the financial services provider's stock valued at $2,805,000 after buying an additional 227 shares during the period. Uncommon Cents Investing Inc lifted its holdings in Main Street Capital by 1.7% in the third quarter. Uncommon Cents Investing Inc now owns 17,624 shares of the financial services provider's stock valued at $970,000 after acquiring an additional 302 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in Main Street Capital by 6.3% in the third quarter. SteelPeak Wealth LLC now owns 5,197 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 307 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in Main Street Capital in the second quarter worth approximately $28,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MAIN shares. Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a research note on Sunday, October 11th. Weiss Ratings raised shares of Main Street Capital from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 3rd. Citigroup reaffirmed a "market outperform" rating on shares of Main Street Capital in a research note on Monday, August 10th. Truist Financial upped their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Finally, Zacks Research raised shares of Main Street Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $61.00.

Insider Activity at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh acquired 2,550 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.83% of the company's stock.

Main Street Capital Price Performance

Shares of MAIN opened at $55.31 on Friday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 14.12 and a beta of 0.74. The firm's fifty day simple moving average is $55.71 and its 200-day simple moving average is $55.56. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $65.23. 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 issued its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The firm had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Equities analysts forecast that Main Street Capital Corporation will post 3.75 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be issued a $0.2650 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $3.18 dividend on an annualized basis and a dividend yield of 5.7%. Main Street Capital's dividend payout ratio is presently 64.11%.

Main Street Capital Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.