Benjamin Edwards Inc. Buys 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. increased its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,394 shares of the financial services provider's stock after purchasing an additional 4,082 shares during the period. Benjamin Edwards Inc. owned approximately 0.17% of Main Street Capital worth $8,450,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Main Street Capital by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider's stock worth $3,454,000 after purchasing an additional 229 shares during the last quarter. Uncommon Cents Investing LLC increased its position in shares of Main Street Capital by 1.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider's stock worth $917,000 after purchasing an additional 231 shares during the last quarter. Sigma Planning Corp increased its position in shares of Main Street Capital by 0.5% during the 1st quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider's stock worth $2,542,000 after purchasing an additional 236 shares during the last quarter. US Bancorp DE increased its position in shares of Main Street Capital by 9.4% during the 1st quarter. US Bancorp DE now owns 2,822 shares of the financial services provider's stock worth $160,000 after purchasing an additional 243 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in shares of Main Street Capital by 6.8% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,807 shares of the financial services provider's stock worth $215,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 20.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MAIN shares. B. Riley upgraded Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Truist Financial lifted their target price on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, 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 note on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Main Street Capital currently has an average rating of "Hold" and an average target price of $55.60.

Main Street Capital Stock Performance

MAIN traded up $0.68 during trading on Tuesday, hitting $66.66. The stock had a trading volume of 374,482 shares, compared to its average volume of 509,966. The company has a 50 day moving average price of $61.52 and a 200-day moving average price of $58.37. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 10.98 and a beta of 0.85. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.03. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.10.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The business 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%. As a group, research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current 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 given a dividend of $0.255 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, December 8th. Main Street Capital's dividend payout ratio is presently 50.41%.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company's 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 sale, the executive vice president directly owned 181,526 shares in the company, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.09% of the company's stock.

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.