Main Street Capital Corporation $MAIN Stock Position Raised by Focus Financial Network Inc.

Key Points

• Focus Financial Network Inc. increased its stake in Main Street Capital Corporation by 14.0% during the second quarter, acquiring an additional 4,160 shares for a total of 33,849 shares valued at approximately $2 million.
• Main Street Capital recently announced a $0.30 dividend to be paid to shareholders, with an ex-dividend date of September 19th, representing a yield of 635.0%.
• The company reported quarterly earnings of $0.99 EPS, matching consensus estimates, and had revenue of $143.97 million, exceeding expectations of $137.23 million.

Focus Financial Network Inc. boosted its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 14.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,849 shares of the financial services provider's stock after purchasing an additional 4,160 shares during the period. Focus Financial Network Inc.'s holdings in Main Street Capital were worth $2,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAIN. Brighton Jones LLC bought a new position in Main Street Capital during the fourth quarter valued at about $304,000. Ameriprise Financial Inc. lifted its holdings in Main Street Capital by 2.0% in the 4th quarter. Ameriprise Financial Inc. now owns 119,193 shares of the financial services provider's stock valued at $6,982,000 after acquiring an additional 2,394 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Main Street Capital by 17.7% during the 4th quarter. ProShare Advisors LLC now owns 15,434 shares of the financial services provider's stock valued at $904,000 after purchasing an additional 2,322 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Main Street Capital by 44.0% in the 4th quarter. Squarepoint Ops LLC now owns 24,875 shares of the financial services provider's stock worth $1,457,000 after purchasing an additional 7,598 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Main Street Capital by 60.6% in the 4th quarter. Vise Technologies Inc. now owns 8,495 shares of the financial services provider's stock worth $498,000 after purchasing an additional 3,204 shares during the last quarter. Institutional investors own 20.31% of the company's stock.

Main Street Capital Stock Down 2.3%

NYSE:MAIN traded down $1.52 during trading hours on Monday, hitting $64.26. 757,604 shares of the stock traded hands, compared to its average volume of 563,715. The firm has a 50 day moving average price of $65.36 and a 200 day moving average price of $59.39. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 10.59 and a beta of 0.88. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Equities research analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital's dividend payout ratio is 50.41%.

Insider Activity at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the business'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 transaction of $811,231.68. Following the transaction, the executive vice president directly owned 181,526 shares of the company's stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares in the company, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.09% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Truist Financial lifted their target price on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. UBS Group reaffirmed a "neutral" rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, B. Riley increased their price target on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Main Street Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

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.