Main Street Capital Corporation (NYSE:MAIN) Stock Position Raised by LPL Financial LLC

Key Points

• LPL Financial LLC increased its stake in Main Street Capital by 2.7% during the first quarter, now owning approximately 0.35% of the company, valued at $17.4 million.
• Recently, Main Street Capital declared a monthly dividend of $0.255 per share, with a dividend yield of 4.8%, to be paid on December 15.
• Main Street Capital's shares increased to $64.17, with a price-to-earnings ratio of 10.89, while the company has a market cap of $5.71 billion.

LPL Financial LLC raised its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,368 shares of the financial services provider's stock after buying an additional 8,203 shares during the quarter. LPL Financial LLC owned about 0.35% of Main Street Capital worth $17,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in Main Street Capital during the first quarter valued at approximately $40,000. Kapitalo Investimentos Ltda acquired a new stake in Main Street Capital during the fourth quarter valued at approximately $45,000. Colonial Trust Advisors acquired a new stake in shares of Main Street Capital during the 4th quarter worth approximately $46,000. NBC Securities Inc. acquired a new stake in shares of Main Street Capital during the 1st quarter worth approximately $54,000. Finally, GAMMA Investing LLC raised its position 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 purchasing an additional 1,056 shares during the period. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Stock Performance

MAIN traded up $2.07 during trading hours on Friday, hitting $65.60. The company's stock had a trading volume of 762,277 shares, compared to its average volume of 481,506. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $66.39. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.84 billion, a PE ratio of 10.81 and a beta of 0.85. The company has a 50-day simple moving average of $61.13 and a 200 day simple moving average of $58.31.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.82% and a net margin of 96.16%. The firm had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, sell-side analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.255 per share. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital's dividend payout ratio (DPR) is presently 51.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MAIN. Truist Financial dropped their price target on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. UBS Group reiterated a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, B. Riley upgraded Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $53.60.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the 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 transaction, the executive vice president directly owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company's stock.

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.