Main Street Capital Corporation $MAIN Shares Sold by Childress Capital Advisors LLC

Key Points

• Childress Capital Advisors reduced its Main Street Capital position by 16% in the third quarter, selling 41,146 shares and retaining 216,587 shares worth approximately $11.9 million. Institutional investors collectively own 20.31% of MAIN.
• Main Street Capital reported quarterly EPS of $0.97, slightly exceeding the $0.96 consensus estimate, while revenue reached $327.56 million versus expectations of $144.59 million.
• The company declared a monthly dividend of $0.265 per share, equating to an annualized $3.18 payout and a 5.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $61, compared with a share price of $55.85.

Childress Capital Advisors LLC lowered its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 16.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,587 shares of the financial services provider's stock after selling 41,146 shares during the period. Main Street Capital makes up 1.8% of Childress Capital Advisors LLC's holdings, making the stock its 12th biggest holding. Childress Capital Advisors LLC owned approximately 0.23% of Main Street Capital worth $11,923,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MAIN. Legal & General Group Plc purchased a new position in Main Street Capital in the 2nd quarter valued at approximately $43,323,000. BlackRock Inc. acquired a new position in shares of Main Street Capital in the second quarter worth $20,940,000. Bank of America Corp DE purchased a new stake in shares of Main Street Capital during the second quarter worth $6,094,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Main Street Capital during the second quarter worth $5,665,000. Finally, Fund Advisors of America Inc FL purchased a new stake in shares of Main Street Capital during the second quarter worth $2,996,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Shares of MAIN opened at $55.85 on Friday. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 11.26 and a beta of 0.74. The firm's fifty day simple moving average is $55.77 and its 200-day simple moving average is $55.59. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $65.23. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The firm had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Equities analysts forecast that Main Street Capital Corporation will post 3.75 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a dividend of $0.2650 per share. This represents a $3.18 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital's dividend payout ratio is currently 64.11%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Truist Financial increased their price objective on Main Street Capital from $53.00 to $57.00 and gave the company a "hold" rating in a research note on Monday, August 10th. Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Citigroup reissued a "market outperform" rating on shares of Main Street Capital in a research note on Monday, August 10th. UBS Group cut their price target on Main Street Capital from $62.00 to $57.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. Finally, Wells Fargo & Company raised Main Street Capital from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $55.00 to $60.00 in a research report on Tuesday, September 29th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $61.00.

Insider Activity

In other Main Street Capital news, CAO Ryan Mchugh acquired 2,550 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.83% of the company's stock.

Main Street Capital Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.

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