Linscomb Wealth Inc. Acquires Shares of 5,000 Main Street Capital Corporation (NYSE:MAIN)

Key Points

• Linscomb Wealth Inc. acquired 5,000 shares of Main Street Capital Corporation, valued at approximately $283,000.
• Several analysts have rated Main Street Capital with an average rating of "Hold" and a consensus price target of $55.60.
• Main Street Capital's upcoming dividend of $0.255 per share is scheduled to be paid on December 15th, with a 4.6% dividend yield.

Linscomb Wealth Inc. acquired a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,000 shares of the financial services provider's stock, valued at approximately $283,000.

Other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in Main Street Capital in the 1st quarter valued at approximately $40,000. Wellington Shields & Co. LLC purchased a new stake in Main Street Capital in the 1st quarter valued at approximately $41,000. Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital in the 4th quarter valued at approximately $45,000. NBC Securities Inc. purchased a new stake in shares of Main Street Capital during the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC boosted its stake in shares of Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock worth $61,000 after acquiring an additional 1,056 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MAIN shares. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group reissued a "neutral" rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. B. Riley upgraded Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Finally, Truist Financial lifted their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital currently has an average rating of "Hold" and a consensus price target of $55.60.

Main Street Capital Trading Up 0.5%

Shares of MAIN opened at $65.95 on Tuesday. The stock has a fifty day moving average of $61.32 and a two-hundred day moving average of $58.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $5.87 billion, a PE ratio of 10.86 and a beta of 0.85. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.03.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.82% and a net margin of 96.16%. As a group, analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.255 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, December 8th. Main Street Capital's dividend payout ratio is presently 50.41%.

Insider Activity at Main Street Capital

In other news, 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 directly 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 filing with the SEC, which is available at this link. 4.09% of the stock is currently owned by 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.

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