Cerity Partners LLC cut its stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,684 shares of the financial services provider's stock after selling 11,600 shares during the quarter. Cerity Partners LLC owned about 0.05% of Main Street Capital worth $2,640,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MAIN. Spire Wealth Management purchased a new position in shares of Main Street Capital in the first quarter worth $40,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital during the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new stake in shares of Main Street Capital in the 4th quarter valued at about $46,000. NBC Securities Inc. bought a new stake in shares of Main Street Capital in the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC boosted its stake in Main Street Capital by 5,557.9% in the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock worth $61,000 after purchasing an additional 1,056 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on MAIN. 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. B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Truist Financial decreased their target price on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.60.
Check Out Our Latest Stock Analysis on Main Street Capital
Insider Activity
In related news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the sale, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.09% of the company's stock.
Main Street Capital Price Performance
NYSE MAIN traded down $0.24 during mid-day trading on Monday, hitting $64.16. The stock had a trading volume of 487,311 shares, compared to its average volume of 479,531. Main Street Capital Corporation has a 52-week low of $45.00 and a 52-week high of $65.45. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12. The company has a 50 day simple moving average of $58.38 and a 200 day simple moving average of $57.72. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 10.89 and a beta of 0.82.
Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The business had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Equities analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.
Main Street Capital Cuts Dividend
The company also recently declared a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 9th were issued a dividend of $0.255 per share. This represents a dividend yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital's dividend payout ratio (DPR) is 51.95%.
Main Street Capital Profile
(
Free Report)
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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