Main Street Capital Corporation $MAIN Shares Purchased by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC increased its stake in Main Street Capital by 3.2% to now hold 345,827 shares, making it the 20th largest holding in its portfolio.
• Main Street Capital recently announced a quarterly dividend of $0.30, yielding 1.9%, with the ex-dividend date set for October 8th.
• The company's shares opened at $63.71, showing a strong market performance with a 12-month high of $67.77 and a P/E ratio of 10.50.

Sound Income Strategies LLC raised its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 345,827 shares of the financial services provider's stock after purchasing an additional 10,819 shares during the quarter. Main Street Capital comprises 1.2% of Sound Income Strategies LLC's portfolio, making the stock its 20th largest holding. Sound Income Strategies LLC owned about 0.39% of Main Street Capital worth $20,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock worth $33,405,000 after acquiring an additional 589,307 shares during the period. Invesco Ltd. lifted its stake in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock valued at $30,105,000 after purchasing an additional 393,101 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its holdings in Main Street Capital by 5.2% during the first quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock worth $25,319,000 after buying an additional 22,090 shares in the last quarter. LPL Financial LLC grew its position in Main Street Capital by 2.7% in the first quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock worth $17,385,000 after buying an additional 8,203 shares during the last quarter. Finally, Muzinich & Co. Inc. increased its holdings in shares of Main Street Capital by 10.8% in the first quarter. Muzinich & Co. Inc. now owns 247,107 shares of the financial services provider's stock valued at $13,976,000 after buying an additional 24,130 shares in the last quarter. Institutional investors own 20.31% of the company's stock.

Main Street Capital Stock Performance

Shares of MAIN opened at $63.71 on Monday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 10.50 and a beta of 0.88. The company's fifty day moving average is $65.31 and its 200-day moving average is $59.60. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 12 month low of $47.00 and a 12 month high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly 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 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. Equities analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th. Main Street Capital's payout ratio is currently 50.41%.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several research reports. UBS Group reissued a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Royal Bank Of Canada boosted their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. B. Riley upped their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Truist Financial lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.20.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.09% 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.

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