Main Street Capital Corporation $MAIN Stake Boosted by Sanders Morris Harris LLC

Key Points

• Sanders Morris Harris LLC increased its stake in Main Street Capital by 2.9%, now holding 213,340 shares, which accounts for approximately 3.0% of their investment portfolio.
• Recent analyst reports show a mix of ratings for Main Street Capital, with UBS maintaining a "neutral" rating and a price target of $58.00, while Royal Bank of Canada lifted its target to $67.00 with an "outperform" rating.
• Main Street Capital announced a quarterly dividend of $0.30 per share, representing an annualized yield of 2.1%, with a dividend payout ratio of 50.41%.

Sanders Morris Harris LLC increased its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,340 shares of the financial services provider's stock after acquiring an additional 6,066 shares during the quarter. Main Street Capital makes up about 3.0% of Sanders Morris Harris LLC's investment portfolio, making the stock its 6th largest position. Sanders Morris Harris LLC owned approximately 0.24% of Main Street Capital worth $12,608,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MAIN. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Main Street Capital by 50.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 2,756 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Main Street Capital by 10.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider's stock valued at $13,736,000 after acquiring an additional 22,340 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Main Street Capital in the 1st quarter valued at $578,000. Victory Capital Management Inc. bought a new position in shares of Main Street Capital in the 1st quarter worth $6,205,000. Finally, Invesco Ltd. lifted its stake in shares of Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAIN. UBS Group reiterated a "neutral" rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Zacks Research cut shares of Main Street Capital from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Royal Bank Of Canada lifted their price target on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of Main Street Capital in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $60.40.

Main Street Capital Stock Down 0.3%

Shares of MAIN opened at $57.97 on Tuesday. The firm has a market cap of $5.18 billion, a P/E ratio of 9.55 and a beta of 0.87. The stock's 50 day moving average is $63.81 and its two-hundred day moving average is $59.93. 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 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 posted its quarterly earnings data 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. The business 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%. Analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th were issued a $0.30 dividend. The ex-dividend date was Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. Main Street Capital's dividend payout ratio (DPR) is presently 50.41%.

Insider Transactions at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares in the company, valued at $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 is available at this link. 4.00% of the stock is currently owned by company insiders.

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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