Invesco Ltd. Acquires 393,101 Shares of Main Street Capital Corporation $MAIN

Key Points

• Invesco Ltd. has significantly increased its stake in Main Street Capital Corporation by 282.5%, owning approximately $30.11 million worth of the stock.
• Several analysts have upgraded their ratings on Main Street Capital, with B. Riley raising the price target to $64.00 and maintaining a "neutral" rating.
• Main Street Capital recently declared a monthly dividend of $0.255 per share, with an annualized yield of 4.7%, scheduled for payment on December 15th.

Invesco Ltd. boosted its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 282.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,267 shares of the financial services provider's stock after purchasing an additional 393,101 shares during the period. Invesco Ltd. owned 0.60% of Main Street Capital worth $30,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Spire Wealth Management acquired a new position in Main Street Capital in the 1st quarter worth about $40,000. Wellington Shields & Co. LLC acquired a new position in Main Street Capital in the 1st quarter worth about $41,000. Kapitalo Investimentos Ltda acquired a new position in Main Street Capital in the 4th quarter worth about $45,000. NBC Securities Inc. acquired a new position in Main Street Capital in the 1st quarter worth about $54,000. Finally, GAMMA Investing LLC increased its holdings 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. Institutional investors and hedge funds own 20.31% of the company's stock.

Insider Activity at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the transaction, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of the firm'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 value 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. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Main Street Capital Trading Down 0.9%

Shares of Main Street Capital stock traded down $0.5690 on Friday, hitting $65.0810. 580,010 shares of the company's stock traded hands, compared to its average volume of 499,294. Main Street Capital Corporation has a one year low of $47.00 and a one year 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 company has a fifty day moving average of $62.86 and a two-hundred day moving average of $58.64. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 10.72 and a beta of 0.85.

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

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.255 dividend. The ex-dividend date is Monday, December 8th. This represents a c) annualized dividend and a yield of 4.7%. Main Street Capital's dividend payout ratio is presently 50.41%.

Analyst Ratings Changes

A number of research firms have commented on MAIN. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. B. Riley upped 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. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Truist Financial upped their price target on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $59.75.

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.