Delta Investment Management LLC Increases Stock Holdings in Main Street Capital Corporation $MAIN

Key Points

• Delta Investment Management LLC increased its stock holdings in Main Street Capital Corporation by 42.4% during the first quarter, now owning 37,425 shares valued at approximately $2.12 million.
• Main Street Capital recently reported $0.99 earnings per share and disclosed an upcoming dividend of $0.255 per share, reflecting a 4.7% yield.
• Several analysts have upgraded Main Street Capital's stock ratings, with recommendations ranging from "hold" to "strong-buy" and a target price increase to $64.00 by Truist Financial.

Delta Investment Management LLC increased its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 42.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,425 shares of the financial services provider's stock after purchasing an additional 11,145 shares during the period. Delta Investment Management LLC's holdings in Main Street Capital were worth $2,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAIN. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital in the first quarter valued at $39,000. Spire Wealth Management acquired a new position in Main Street Capital in the first quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new position in Main Street Capital in the first quarter valued at $41,000. Kapitalo Investimentos Ltda acquired a new position in Main Street Capital in the fourth quarter valued at $45,000. Finally, NBC Securities Inc. acquired a new position in Main Street Capital in the first quarter valued at $54,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Price Performance

MAIN opened at $64.56 on Wednesday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 10.64 and a beta of 0.85. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company's 50-day moving average price is $63.13 and its 200 day moving average price is $58.67. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Announces Dividend

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

Insider Activity

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction that occurred on 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 directly owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MAIN. Truist Financial raised 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. UBS Group reissued a "neutral" rating and issued a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $59.75.

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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