Atria Wealth Solutions Inc. Trims Holdings in Main Street Capital Corporation $MAIN

Key Points

• Atria Wealth Solutions Inc. significantly reduced its stake in Main Street Capital Corporation by 88.9% during the second quarter, leaving it with only 4,713 shares valued at $279,000.
• Main Street Capital announced a quarterly dividend of $0.30 per share, yielding 2.1%, as it reported earnings of $0.99 per share, matching analyst estimates.
• Analysts have mixed reviews on Main Street Capital, with ratings ranging from a "buy" to a "hold," and a target price averaging around $60.40, as of recent research reports.

Atria Wealth Solutions Inc. trimmed its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 88.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,713 shares of the financial services provider's stock after selling 37,645 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Main Street Capital were worth $279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Main Street Capital by 50.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider's stock worth $468,000 after purchasing an additional 2,756 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Main Street Capital by 10.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider's stock worth $13,736,000 after purchasing an additional 22,340 shares during the period. Mackenzie Financial Corp bought a new position in Main Street Capital in the 1st quarter worth approximately $578,000. Victory Capital Management Inc. bought a new position in Main Street Capital in the 1st quarter worth approximately $6,205,000. Finally, Invesco Ltd. boosted its stake in Main Street Capital by 282.5% in the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Down 0.1%

Shares of MAIN opened at $57.89 on Wednesday. The company has a market cap of $5.18 billion, a PE ratio of 9.54 and a beta of 0.87. The business has a fifty day moving average of $63.64 and a 200 day moving average of $59.92. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.99. The company had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, sell-side analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th were paid a $0.30 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. Main Street Capital's dividend payout ratio (DPR) is presently 50.41%.

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.09% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on MAIN shares. Weiss Ratings restated a "buy (b+)" rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Royal Bank Of Canada increased their target price on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Zacks Research downgraded Main Street Capital from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. UBS Group reiterated a "neutral" rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Main Street Capital has an average rating of "Hold" and an average target price of $60.40.

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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