Main Street Capital Corporation (NYSE:MAIN) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,433 shares of the financial services provider's stock after selling 4,585 shares during the quarter. Legacy Capital Wealth Partners LLC's holdings in Main Street Capital were worth $1,552,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MAIN. Spire Wealth Management acquired a new stake in shares of Main Street Capital in the 1st quarter valued at about $40,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Main Street Capital in the 4th quarter valued at about $45,000. Colonial Trust Advisors acquired a new stake in shares of Main Street Capital in the 4th quarter valued at about $46,000. NBC Securities Inc. acquired a new stake in shares of Main Street Capital in the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC boosted its position in shares of 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 valued at $61,000 after purchasing an additional 1,056 shares during the period. Hedge funds and other institutional investors own 20.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MAIN. UBS Group reissued a "neutral" rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday. Truist Financial reduced their price objective on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a research note on Monday, May 12th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Finally, B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.60.

Main Street Capital Stock Performance

NYSE MAIN traded up $0.89 on Wednesday, hitting $64.39. 415,144 shares of the company's stock were exchanged, compared to its average volume of 477,487. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The firm's 50-day moving average price is $57.91 and its two-hundred day moving average price is $57.65. Main Street Capital Corporation has a fifty-two week low of $45.00 and a fifty-two week high of $64.45. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 10.93 and a beta of 0.82.

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 for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. The business had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. On average, research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, July 15th. Investors of record on Wednesday, July 9th were issued a $0.255 dividend. This represents a dividend yield of 5.18%. The ex-dividend date of this dividend was Tuesday, July 8th. Main Street Capital's dividend payout ratio is currently 51.95%.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the company'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 sale, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

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.