Main Street Capital Corporation (NYSE:MAIN) Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,568 shares of the financial services provider's stock after selling 5,015 shares during the quarter. Main Street Capital comprises about 1.0% of Denali Advisors LLC's portfolio, making the stock its 16th biggest position. Denali Advisors LLC owned approximately 0.18% of Main Street Capital worth $8,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spire Wealth Management purchased a new stake in Main Street Capital during the 1st quarter worth approximately $40,000. Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital during the 4th quarter worth approximately $45,000. Colonial Trust Advisors purchased a new stake in Main Street Capital during the 4th quarter worth approximately $46,000. NBC Securities Inc. purchased a new stake in Main Street Capital during the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC increased its stake in Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock worth $61,000 after buying an additional 1,056 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAIN has been the topic of several analyst reports. UBS Group increased their price objective on Main Street Capital from $56.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. B. Riley upgraded Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Truist Financial cut their price target on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Main Street Capital currently has a consensus rating of "Hold" and a consensus target price of $53.60.

Insiders Place Their Bets

In other news, EVP Jason B. Beauvais sold 13,664 shares of the 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 in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.09% of the stock is owned by insiders.

Main Street Capital Price Performance

NYSE:MAIN traded up $0.25 on Tuesday, reaching $64.39. The stock had a trading volume of 445,493 shares, compared to its average volume of 480,400. Main Street Capital Corporation has a 1-year low of $45.00 and a 1-year high of $65.45. The stock has a fifty day moving average price of $58.59 and a 200-day moving average price of $57.75. The company has a market capitalization of $5.73 billion, a P/E ratio of 10.93 and a beta of 0.82. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12.

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, beating 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. Research analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th were issued a dividend of $0.255 per share. This represents a yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital's payout ratio is 51.95%.

About Main Street Capital

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.