Inscription Capital LLC Buys New Holdings in Main Street Capital Corporation (NYSE:MAIN)

Inscription Capital LLC bought a new position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,607 shares of the financial services provider's stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MAIN. FNY Investment Advisers LLC acquired a new position in Main Street Capital in the first quarter valued at $95,000. Brighton Jones LLC lifted its holdings in shares of Main Street Capital by 11.7% in the 1st quarter. Brighton Jones LLC now owns 5,792 shares of the financial services provider's stock valued at $328,000 after purchasing an additional 607 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Main Street Capital by 11.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 65,742 shares of the financial services provider's stock valued at $3,718,000 after purchasing an additional 6,787 shares during the period. Focus Financial Network Inc. grew its stake in Main Street Capital by 9.4% during the 1st quarter. Focus Financial Network Inc. now owns 29,689 shares of the financial services provider's stock worth $1,679,000 after buying an additional 2,558 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in Main Street Capital by 89.6% during the 1st quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider's stock worth $406,000 after buying an additional 3,396 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

Wall Street Analysts Forecast Growth

MAIN has been the subject of a number of recent research reports. Wall Street Zen cut shares of Main Street Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. UBS Group cut their price objective on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Truist Financial decreased 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. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, B. Riley raised shares of Main Street Capital to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $52.80.

Insiders Place Their Bets

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company's stock, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Main Street Capital Price Performance

Shares of MAIN traded up $0.55 during trading hours on Thursday, reaching $58.46. 421,274 shares of the company traded hands, compared to its average volume of 470,866. The stock has a market capitalization of $5.20 billion, a PE ratio of 9.93 and a beta of 0.82. The stock has a fifty day simple moving average of $55.00 and a 200 day simple moving average of $57.01. Main Street Capital Corporation has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. 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 released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. The company had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. As a group, research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 23rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 20th. This is an increase from Main Street Capital's previous dividend of $0.25. This represents a yield of 7.26%. Main Street Capital's payout ratio is 50.93%.

Main Street Capital 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.