HighTower Advisors LLC Has $5.69 Million Stock Position in Main Street Capital Corporation $MAIN

Key Points

• HighTower Advisors LLC reduced its stake in Main Street Capital Corporation by 3.9%, selling 4,105 shares, and now holds 100,611 shares valued at approximately $5.69 million.
• Several institutional investors, including Spire Wealth Management and GAMMA Investing LLC, have made new investments in Main Street Capital, with 20.31% of the stock owned by institutional investors and hedge funds.
• Main Street Capital plans to pay a monthly dividend of $0.255 on December 15th, representing an annualized dividend yield of 4.7% based on its recent share price.

HighTower Advisors LLC decreased its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 100,611 shares of the financial services provider's stock after selling 4,105 shares during the period. HighTower Advisors LLC owned 0.11% of Main Street Capital worth $5,691,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAIN. Spire Wealth Management bought a new position in Main Street Capital during the 1st quarter worth $40,000. Wellington Shields & Co. LLC bought a new stake in shares of Main Street Capital in the first quarter valued at about $41,000. Kapitalo Investimentos Ltda acquired a new position in shares of Main Street Capital in the fourth quarter valued at about $45,000. NBC Securities Inc. bought a new position in Main Street Capital during the first quarter worth about $54,000. Finally, GAMMA Investing LLC raised its stake in 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 worth $61,000 after purchasing an additional 1,056 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAIN. UBS Group restated a "neutral" rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research report 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 raised their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and an average price target of $59.75.

Main Street Capital Price Performance

NYSE:MAIN traded down $0.5690 during trading hours on Friday, hitting $65.0810. The company's stock had a trading volume of 580,010 shares, compared to its average volume of 499,294. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day simple moving average of $62.86 and a 200-day simple moving average of $58.64. The company has a market capitalization of $5.82 billion, a P/E ratio of 10.72 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. On average, analysts anticipate that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.255 dividend. The ex-dividend date is Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 4.7%. Main Street Capital's dividend payout ratio (DPR) is currently 50.41%.

Insider Buying and Selling

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the business's stock in a transaction 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 sale, the director owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on 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 transaction, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company's stock.

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.