Delta Investment Management LLC Sells 26,671 Shares of Main Street Capital Corporation $MAIN

Key Points

• Delta Investment Management LLC sold 26,671 shares of Main Street Capital (NYSE:MAIN), cutting its position by 63.1% to 15,603 shares worth $942,000 per the latest SEC filing.
• Analysts on average rate MAIN as a Hold with an average target price of $61.71, reflecting mixed coverage (4 Buy, 7 Hold) and recent price-target adjustments.
• MAIN traded at $54.83 with a market cap of $4.94 billion and a P/E of 9.94, and it pays a $0.30 quarterly dividend (annualized $1.20) for about a 2.2% yield.

Delta Investment Management LLC decreased its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,603 shares of the financial services provider's stock after selling 26,671 shares during the quarter. Delta Investment Management LLC's holdings in Main Street Capital were worth $942,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MAIN. Quest 10 Wealth Builders Inc. bought a new position in shares of Main Street Capital in the third quarter valued at approximately $25,000. City Holding Co. bought a new position in shares of Main Street Capital in the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position in shares of Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 250 shares during the period. Investors Research Corp bought a new position in shares of Main Street Capital in the fourth quarter valued at approximately $30,000. Finally, Assetmark Inc. increased its stake in shares of Main Street Capital by 203.0% in the third quarter. Assetmark Inc. now owns 506 shares of the financial services provider's stock worth $32,000 after purchasing an additional 339 shares during the period. Institutional investors own 20.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citizens Jmp dropped their price objective on Main Street Capital from $74.00 to $70.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 22nd. Citigroup reiterated an "outperform" rating on shares of Main Street Capital in a research note on Tuesday, January 27th. Loop Capital upgraded Main Street Capital to a "neutral" rating and set a $65.00 price objective on the stock in a research note on Thursday, January 15th. Noble Financial reaffirmed a "neutral" rating on shares of Main Street Capital in a research report on Thursday, January 15th. Finally, Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $61.71.

Main Street Capital Stock Performance

Main Street Capital stock traded up $1.08 on Thursday, hitting $54.83. The company's stock had a trading volume of 65,988 shares, compared to its average volume of 706,750. The firm has a market cap of $4.94 billion, a P/E ratio of 9.94 and a beta of 0.80. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $55.21 and a 200-day moving average price of $58.33. Main Street Capital Corporation has a one year low of $50.77 and a one year high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. The firm had revenue of $156.17 million for the quarter, compared to analyst estimates of $141.50 million. On average, equities analysts anticipate that Main Street Capital Corporation will post 4.02 earnings per share for the current year.

Main Street Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Wednesday, April 8th. Main Street Capital's payout ratio is currently 56.52%.

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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