Main Street Capital Corporation $MAIN Position Raised by AlphaQuest LLC

Key Points

• AlphaQuest LLC raised its stake in Main Street Capital Corporation by 68.0% during the first quarter, now holding approximately $2.55 million in shares.
• Wall Street analysts have given Main Street Capital an average rating of "Hold", with price targets ranging from $58.00 to $64.00.
• Main Street Capital announced a monthly dividend of $0.255 per share, reflecting a dividend yield of 4.7%, with a payout ratio of 50.41%.

AlphaQuest LLC increased its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 68.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,117 shares of the financial services provider's stock after buying an additional 18,264 shares during the quarter. AlphaQuest LLC owned about 0.05% of Main Street Capital worth $2,552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC purchased a new position in shares of Main Street Capital in the first quarter worth approximately $39,000. Spire Wealth Management purchased a new position in Main Street Capital during the 1st quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new stake in Main Street Capital in the 1st quarter worth about $41,000. Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the fourth quarter worth approximately $45,000. Finally, NBC Securities Inc. acquired a new position in Main Street Capital during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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 report on Wednesday, July 16th. 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. Truist Financial raised 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 report on Monday, August 11th. B. Riley boosted their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday. Finally, Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Main Street Capital currently has an average rating of "Hold" and an average price target of $59.75.

Insider Transactions at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the sale, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred 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 in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Main Street Capital Trading Up 0.3%

MAIN opened at $65.5670 on Friday. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The firm has a 50-day moving average price of $62.71 and a two-hundred day moving average price of $58.62. The stock has a market capitalization of $5.86 billion, a PE ratio of 10.80 and a beta of 0.85. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.255 per share. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 8th. Main Street Capital's payout ratio is presently 50.41%.

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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