Corient Private Wealth LP Takes $1.15 Million Position in Main Street Capital Corporation $MAIN

Corient Private Wealth LP bought a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,064 shares of the financial services provider's stock, valued at approximately $1,145,000.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Main Street Capital by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider's stock worth $165,135,000 after purchasing an additional 162,580 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Main Street Capital by 3,880.8% in the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider's stock worth $53,774,000 after buying an additional 868,092 shares during the period. UBS Group AG raised its holdings in shares of Main Street Capital by 160.7% in the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider's stock worth $55,125,000 after buying an additional 534,374 shares during the period. Legal & General Group Plc bought a new stake in shares of Main Street Capital during the 2nd quarter worth approximately $43,323,000. Finally, Adell Harriman & Carpenter Inc. boosted its holdings in Main Street Capital by 1.3% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 484,584 shares of the financial services provider's stock valued at $25,664,000 after acquiring an additional 6,149 shares during the period. Institutional investors own 20.31% of the company's stock.

Insider Buying and Selling

In related news, CAO Ryan Mchugh purchased 2,550 shares of the company's stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the transaction, the chief accounting officer directly owned 22,647 shares of the company's stock, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason B. Beauvais sold 6,830 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company's stock, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.83% of the company's stock.

Main Street Capital Stock Performance

Shares of NYSE MAIN opened at $57.78 on Friday. The company has a 50 day simple moving average of $55.70 and a two-hundred day simple moving average of $54.50. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 11.65 and a beta of 0.72. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.34.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. As a group, analysts predict that Main Street Capital Corporation will post 3.77 earnings per share for the current year.

Main Street Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a $0.265 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, December 8th. Main Street Capital's dividend payout ratio (DPR) is 64.11%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial upped their price target on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Wells Fargo & Company boosted their price target on Main Street Capital from $50.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Wall Street Zen downgraded Main Street Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Citigroup restated a "market outperform" rating on shares of Main Street Capital in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Main Street Capital from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $60.83.

Main Street Capital Profile

Main Street Capital Corporation NYSE: MAIN is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm's management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital's primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.

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