BI Asset Management Fondsmaeglerselskab A S Buys Shares of 85,565 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 purchased a new position in Main Street Capital Corporation (NYSE:MAIN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 85,565 shares of the financial services provider's stock, valued at approximately $4,840,000. BI Asset Management Fondsmaeglerselskab A S owned 0.10% of Main Street Capital as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC purchased a new stake in Main Street Capital in the first quarter worth approximately $39,000. Spire Wealth Management purchased a new position in shares of Main Street Capital in the 1st quarter worth $40,000. Wellington Shields & Co. LLC purchased a new position in shares of Main Street Capital in the 1st quarter worth $41,000. Kapitalo Investimentos Ltda bought a new stake in shares of Main Street Capital in the fourth quarter worth $45,000. Finally, NBC Securities Inc. bought a new position in Main Street Capital in the first quarter valued at about $54,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Shares of NYSE:MAIN opened at $65.4560 on Thursday. The firm's 50 day simple moving average is $62.57 and its two-hundred day simple moving average is $58.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $5.85 billion, a P/E ratio of 10.78 and a beta of 0.85. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77.

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

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.255 per share. The ex-dividend date is Monday, December 8th. This represents a c) annualized dividend and a dividend yield of 4.7%. Main Street Capital's dividend payout ratio (DPR) is currently 50.41%.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of recent research reports. B. Riley boosted their price target on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday. Truist Financial boosted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. UBS Group reaffirmed a "neutral" rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $59.75.

Insider Activity at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were 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 of the company's stock, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director 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 disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

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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