5,325 Shares in Main Street Capital Corporation $MAIN Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC acquired 5,325 shares of Main Street Capital Corporation in the first quarter, valued at approximately $301,000.
• Wall Street analysts have increased their price targets for Main Street Capital, with Royal Bank Of Canada raising theirs from $52.00 to $67.00 and maintaining an "outperform" rating.
• Main Street Capital announced a monthly dividend of $0.255 per share with a dividend yield of 4.6%, payable on November 14th to investors of record on November 7th.

Magnetar Financial LLC purchased a new stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,325 shares of the financial services provider's stock, valued at approximately $301,000.

Several other large investors have also recently modified their holdings of MAIN. Financial Network Wealth Advisors LLC bought a new position in Main Street Capital during the 1st quarter worth approximately $39,000. Spire Wealth Management bought a new position in shares of Main Street Capital in the first quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new position in shares of Main Street Capital in the first quarter worth $41,000. NBC Securities Inc. bought a new stake in Main Street Capital during the 1st quarter valued at $54,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in Main Street Capital during the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 20.31% of the company's stock.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director directly 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 sale 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 Main Street Capital stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the sale, the executive vice president 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 owned by insiders.

Main Street Capital Stock Down 0.1%

Main Street Capital stock traded down $0.06 during mid-day trading on Friday, reaching $66.53. The stock had a trading volume of 538,351 shares, compared to its average volume of 463,280. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $67.77. The company has a 50-day moving average price of $64.31 and a two-hundred day moving average price of $58.90. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 10.96 and a beta of 0.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. On average, analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MAIN. Royal Bank Of Canada upped their price objective 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 upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial upped their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. B. Riley raised their price objective on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

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.