BI Asset Management Fondsmaeglerselskab A S Makes New $4.84 Million Investment in Main Street Capital Corporation $MAIN

Key Points

• BI Asset Management Fondsmaeglerselskab A S acquired 85,565 shares of Main Street Capital Corporation, valued at approximately $4.84 million, representing 0.10% ownership as of the latest SEC filing.
• In addition to BI Asset Management, several hedge funds have opened new positions in Main Street Capital, with total institutional ownership reaching 20.31%.
• Main Street Capital recently declared a monthly dividend of $0.255 per share, with a dividend yield of 4.7%, set to be paid on December 15th.

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 85,565 shares of the financial services provider's stock, valued at approximately $4,840,000. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.10% of Main Street Capital as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Main Street Capital in the first quarter valued at approximately $588,000. Nations Financial Group Inc. IA ADV boosted its stake in Main Street Capital by 2.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider's stock worth $538,000 after buying an additional 221 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Main Street Capital during the first quarter valued at $213,000. Financial Network Wealth Advisors LLC bought a new position in shares of Main Street Capital during the first quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Main Street Capital in the first quarter valued at about $61,000. Institutional investors own 20.31% of the company's stock.

Insider Buying and Selling at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.09% of the company's stock.

Main Street Capital Trading Up 0.3%

MAIN traded up $0.22 during trading on Tuesday, reaching $64.22. 119,323 shares of the company's stock were exchanged, compared to its average volume of 547,192. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $5.74 billion, a PE ratio of 10.57 and a beta of 0.85. The firm has a fifty day moving average price of $62.99 and a two-hundred day moving average price of $58.63.

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

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a c) annualized dividend and a yield of 4.8%. Main Street Capital's payout ratio is currently 50.41%.

Analysts Set New Price Targets

MAIN has been the subject of several recent research reports. B. Riley boosted their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Truist Financial boosted their price objective on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.75.

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.