Benjamin Edwards Inc. Acquires 4,082 Shares of Main Street Capital Corporation (NYSE:MAIN)

Key Points

• Benjamin Edwards Inc. raised its stake in Main Street Capital Corporation by 2.8%, owning a total of 149,394 shares valued at approximately $8,450,000 as of their latest filing.
• Different hedge funds, including Invesco Ltd. and Victory Capital Management Inc., significantly increased their positions in Main Street Capital, reflecting growing institutional interest in the company.
• Main Street Capital recently declared a monthly dividend of $0.255, which results in an annualized yield of 4.7% and a payout ratio of 51.95%.

Benjamin Edwards Inc. grew its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 149,394 shares of the financial services provider's stock after buying an additional 4,082 shares during the quarter. Benjamin Edwards Inc. owned 0.17% of Main Street Capital worth $8,450,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Burgundy Asset Management Ltd. raised its position in Main Street Capital by 1.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock worth $67,578,000 after purchasing an additional 17,196 shares during the period. Adell Harriman & Carpenter Inc. raised its position in Main Street Capital by 5.2% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock worth $25,319,000 after purchasing an additional 22,090 shares during the period. LPL Financial LLC raised its position in Main Street Capital by 2.7% in the 1st quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock worth $17,385,000 after purchasing an additional 8,203 shares during the period. Muzinich & Co. Inc. raised its position in Main Street Capital by 10.8% in the 1st quarter. Muzinich & Co. Inc. now owns 247,107 shares of the financial services provider's stock worth $13,976,000 after purchasing an additional 24,130 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position 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. Hedge funds and other institutional investors own 20.31% of the company's stock.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.00% of the company's stock.

Main Street Capital Trading Down 0.5%

Shares of MAIN stock traded down $0.36 during mid-day trading on Thursday, reaching $67.19. The stock had a trading volume of 217,636 shares, compared to its average volume of 549,725. The stock's 50-day moving average price is $61.74 and its two-hundred day moving average price is $58.43. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The firm has a market capitalization of $6.01 billion, a PE ratio of 11.07 and a beta of 0.85. The company has a current ratio of 0.09, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts' consensus estimates of $0.99. The firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Equities analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Main Street Capital's payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of equities analysts recently commented on MAIN shares. Truist Financial lifted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. B. Riley upgraded shares of Main Street Capital to a "hold" rating in a research report on Monday, June 16th. UBS Group restated a "neutral" rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $55.60.

About Main Street Capital

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.