Goldman Sachs Group Inc. Reduces Stake in Main Street Capital Corporation $MAIN

Key Points

• Goldman Sachs reduced its stake in Main Street Capital Corporation by 65.6%, decreasing their holdings from over 30,000 shares to about 10,461 shares, valued at approximately $592,000 as of the latest SEC filing.
• Main Street Capital recently announced a quarterly dividend of $0.30 per share, set to be paid on October 15th, reflecting a 1.9% dividend yield and a payout ratio of 50.41%.
• Several analysts upgraded Main Street Capital's stock ratings, with target prices now ranging from $58.00 to $64.00, indicating a consensus rating of "Moderate Buy" from analysts.

Goldman Sachs Group Inc. cut its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,461 shares of the financial services provider's stock after selling 19,927 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Main Street Capital were worth $592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nations Financial Group Inc. IA ADV raised its holdings in Main Street Capital by 2.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider's stock valued at $538,000 after acquiring an additional 221 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Main Street Capital by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider's stock valued at $3,454,000 after acquiring an additional 229 shares during the period. Uncommon Cents Investing LLC raised its holdings in Main Street Capital by 1.4% during the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider's stock valued at $917,000 after acquiring an additional 231 shares during the period. Sigma Planning Corp raised its holdings in Main Street Capital by 0.5% during the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider's stock valued at $2,542,000 after acquiring an additional 236 shares during the period. Finally, US Bancorp DE raised its holdings in Main Street Capital by 9.4% during the first quarter. US Bancorp DE now owns 2,822 shares of the financial services provider's stock valued at $160,000 after acquiring an additional 243 shares during the period. 20.31% of the stock is owned by institutional investors.

Insider Activity

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business'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 transaction, the director owned 82,383 shares in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MAIN has been the topic of several research reports. 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. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report 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. B. Riley boosted their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Finally, UBS Group reiterated a "neutral" rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Main Street Capital Trading Up 1.4%

Shares of NYSE MAIN opened at $63.74 on Friday. The business's 50 day moving average is $65.32 and its two-hundred day moving average is $59.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The stock has a market capitalization of $5.70 billion, a P/E ratio of 10.50 and a beta of 0.88.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued 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. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th. Main Street Capital's payout ratio is 50.41%.

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.

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