Main Street Capital Corporation (NYSE:MAIN) Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers reduced its stake in Main Street Capital by 10.4%, selling 5,538 shares, and now holds 47,554 shares valued at approximately $2.69 million.
• Several institutional investors increased their positions in Main Street Capital, with Burgundy Asset Management Ltd. raising its stake by 1.5%, and others like Muzinich & Co. and Sumitomo Mitsui Trust Group raising their stakes by over 10% during the first quarter.
• Main Street Capital recently declared a monthly dividend of $0.255 per share with a dividend yield of 4.8%, payable on December 15th to investors of record on December 8th.

Cetera Investment Advisers reduced its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,554 shares of the financial services provider's stock after selling 5,538 shares during the period. Cetera Investment Advisers owned approximately 0.05% of Main Street Capital worth $2,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MAIN. Wealth Enhancement Advisory Services LLC boosted its position in shares of Main Street Capital by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider's stock worth $3,454,000 after buying an additional 229 shares during the period. Uncommon Cents Investing LLC raised its holdings 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 valued at $917,000 after buying an additional 231 shares during the period. Sigma Planning Corp lifted its position in 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 acquiring an additional 236 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Main Street Capital by 6.8% in the 1st quarter. Cornerstone Wealth Management LLC now owns 3,807 shares of the financial services provider's stock worth $215,000 after acquiring an additional 244 shares during the period. Finally, Wedbush Securities Inc. grew its position in Main Street Capital by 6.2% in the fourth quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 266 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MAIN. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial cut their price objective on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 12th. UBS Group restated 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. Finally, B. Riley raised Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $53.60.

Insider Buying and Selling

In other news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Main Street Capital Stock Up 3.3%

Shares of NYSE:MAIN traded up $2.07 during midday trading on Friday, reaching $65.60. The company had a trading volume of 762,277 shares, compared to its average volume of 552,332. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $66.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $5.84 billion, a P/E ratio of 11.14 and a beta of 0.85. The stock's fifty day moving average price is $61.13 and its 200-day moving average price is $58.31.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The company had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.255 per share. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital's dividend payout ratio (DPR) is currently 51.95%.

Main Street Capital Company 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.