Kestra Advisory Services LLC Trims Position in Main Street Capital Corporation $MAIN

Key Points

• Kestra Advisory Services LLC reduced its stake in Main Street Capital Corporation by 18.8%, selling 11,034 shares and owning 47,554 shares valued at approximately $2.69 million.
• Main Street Capital announced a monthly dividend of $0.255 per share, with a yield of 4.6%, payable on November 14th.
• Analysts have mixed views on the stock, with ratings ranging from "sell" to "strong-buy," and a consensus target price of $61.20.

Kestra Advisory Services LLC lessened its stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 18.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 47,554 shares of the financial services provider's stock after selling 11,034 shares during the period. Kestra Advisory Services LLC owned about 0.05% of Main Street Capital worth $2,690,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MAIN. Brighton Jones LLC acquired a new stake in Main Street Capital in the 4th quarter valued at approximately $304,000. First Trust Advisors LP acquired a new position in shares of Main Street Capital in the fourth quarter worth $6,059,000. Stifel Financial Corp grew its stake in shares of Main Street Capital by 3.9% in the fourth quarter. Stifel Financial Corp now owns 11,296 shares of the financial services provider's stock worth $662,000 after acquiring an additional 425 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Main Street Capital in the fourth quarter worth $1,953,000. Finally, Aquatic Capital Management LLC grew its stake in shares of Main Street Capital by 20.6% in the fourth quarter. Aquatic Capital Management LLC now owns 16,526 shares of the financial services provider's stock worth $968,000 after acquiring an additional 2,826 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

Insider Transactions at Main Street Capital

In other 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 value of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction dated Friday, June 27th. The shares were 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 directly 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. 4.09% of the stock is currently owned by corporate insiders.

Main Street Capital Stock Performance

MAIN traded down $0.61 on Tuesday, reaching $65.69. The company had a trading volume of 340,624 shares, compared to its average volume of 545,767. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The stock has a market capitalization of $5.87 billion, a PE ratio of 10.82 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $63.73 and a 200-day moving average price of $58.79.

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 for the quarter, meeting 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. As a group, research analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

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 issued a $0.255 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, November 7th. Main Street Capital's dividend payout ratio is presently 50.41%.

Analysts Set New Price Targets

MAIN has been the subject of several research reports. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. 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 note on Monday, August 18th. Truist Financial boosted their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Finally, UBS Group reaffirmed a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.20.

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.