Main Street Capital Corporation (NYSE:MAIN) Stake Reduced by Denali Advisors LLC

Denali Advisors LLC trimmed its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,568 shares of the financial services provider's stock after selling 5,015 shares during the period. Main Street Capital accounts for 1.0% of Denali Advisors LLC's holdings, making the stock its 16th biggest position. Denali Advisors LLC owned about 0.18% of Main Street Capital worth $8,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in shares of Main Street Capital in the 1st quarter valued at approximately $40,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $45,000. Colonial Trust Advisors purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $46,000. NBC Securities Inc. purchased a new stake in shares of Main Street Capital in the 1st quarter valued at approximately $54,000. Finally, GAMMA Investing LLC raised its stake in shares of Main Street Capital by 5,557.9% in the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 1,056 shares during the period. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the sale, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.09% of the stock is currently owned by corporate insiders.

Main Street Capital Trading Down 0.9%

Shares of Main Street Capital stock traded down $0.57 during mid-day trading on Tuesday, hitting $63.58. 209,155 shares of the stock were exchanged, compared to its average volume of 478,512. Main Street Capital Corporation has a twelve month low of $45.00 and a twelve month high of $65.45. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 10.80 and a beta of 0.82. The company has a 50-day simple moving average of $58.59 and a 200 day simple moving average of $57.75. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate 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 business also recently declared a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 9th were given a dividend of $0.255 per share. This represents a dividend yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital's payout ratio is currently 51.95%.

Analysts Set New Price Targets

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

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.