Jones Financial Companies Lllp Has $33.41 Million Position in 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 raised its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 45,123.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 590,613 shares of the financial services provider's stock after purchasing an additional 589,307 shares during the period. Jones Financial Companies Lllp owned 0.66% of Main Street Capital worth $33,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its position in Main Street Capital by 1.5% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock valued at $67,578,000 after purchasing an additional 17,196 shares during the period. Invesco Ltd. lifted its position in Main Street Capital by 282.5% during the 1st 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. Adell Harriman & Carpenter Inc. lifted its position in Main Street Capital by 5.2% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock valued at $25,319,000 after purchasing an additional 22,090 shares during the period. LPL Financial LLC lifted its position in Main Street Capital by 2.7% during the 1st quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock valued at $17,385,000 after purchasing an additional 8,203 shares during the period. Finally, Muzinich & Co. Inc. raised its position in shares of Main Street Capital by 10.8% in the 1st quarter. Muzinich & Co. Inc. now owns 247,107 shares of the financial services provider's stock valued at $13,976,000 after acquiring an additional 24,130 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Shares of Main Street Capital stock traded down $0.09 during trading on Friday, reaching $67.08. The company's stock had a trading volume of 343,398 shares, compared to its average volume of 542,120. The business's 50-day moving average price is $64.84 and its 200-day moving average price is $59.07. The firm has a market cap of $6.00 billion, a PE ratio of 11.05 and a beta of 0.88. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MAIN. Truist Financial increased their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Royal Bank Of Canada raised their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. B. Riley raised their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Zacks Research raised shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Main Street Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Insider Transactions at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company's stock, valued at $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the sale, the executive vice president directly owned 181,526 shares of the company's stock, valued at $10,777,198.62. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. 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.