Jones Financial Companies Lllp Purchases 589,307 Shares of Main Street Capital Corporation $MAIN

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Main Street Capital Corporation, acquiring 589,307 additional shares, bringing its total holdings to 590,613 shares worth approximately $33.41 million.
• Main Street Capital's recent earnings met expectations with a reported $0.99 earnings per share and revenue exceeding forecasts at $143.97 million.
• The company announced a monthly dividend of $0.255, resulting in an annualized yield of 4.6%, with the payment date set for November 14th.

Jones Financial Companies Lllp grew its stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 45,123.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,613 shares of the financial services provider's stock after purchasing an additional 589,307 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.66% of Main Street Capital worth $33,405,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MAIN. Invesco Ltd. raised its position in shares of Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock valued at $30,105,000 after purchasing an additional 393,101 shares during the period. Victory Capital Management Inc. bought a new position in shares of Main Street Capital in the first quarter valued at about $6,205,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Main Street Capital in the first quarter valued at about $4,840,000. Jefferies Financial Group Inc. bought a new position in Main Street Capital during the fourth quarter worth about $3,993,000. Finally, Segment Wealth Management LLC increased its position in Main Street Capital by 134.3% during the first quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock worth $6,674,000 after acquiring an additional 67,626 shares during the period. 20.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the sale, the executive vice president 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 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 0.4%

Shares of NYSE:MAIN traded down $0.28 during mid-day trading on Friday, hitting $66.89. The company had a trading volume of 455,138 shares, compared to its average volume of 458,883. The firm has a fifty day moving average price of $64.95 and a 200 day moving average price of $59.12. The company has a market capitalization of $5.98 billion, a PE ratio of 11.02 and a beta of 0.88. 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 one year low of $47.00 and a one year high of $67.77.

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

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.255 per share. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, November 7th. Main Street Capital's payout ratio is 50.41%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MAIN shares. Royal Bank Of Canada raised their price target on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. UBS Group restated a "neutral" rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Truist Financial lifted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, B. Riley boosted their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

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.