Main Street Capital Corporation $MAIN Stock Sold by Vestor Capital LLC

Key Points

• Vestor Capital cut its Main Street Capital stake by 59.1% in the third quarter, selling 32,625 shares and retaining 22,583 shares valued at about $1.24 million.
• Main Street Capital’s latest quarter fell short of estimates: earnings were $0.89 per share versus $0.92 expected, while revenue was $142.53 million versus $145.67 million forecast.
• The company declared a monthly dividend of $0.27 per share, equivalent to $3.24 annually and a stated yield of 5.7%. Analysts’ consensus rating is “Hold,” with an average price target of $61.14.

Vestor Capital LLC trimmed its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 59.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,583 shares of the financial services provider's stock after selling 32,625 shares during the period. Vestor Capital LLC's holdings in Main Street Capital were worth $1,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MAIN. MassMutual Private Wealth & Trust FSB purchased a new stake in Main Street Capital during the second quarter valued at $28,000. John Boyer Inc. bought a new stake in Main Street Capital during the third quarter valued at about $28,000. Fifth Third Bancorp bought a new stake in Main Street Capital during the first quarter valued at about $57,000. Root Financial Partners LLC bought a new stake in Main Street Capital during the third quarter valued at about $64,000. Finally, State of Wyoming purchased a new stake in Main Street Capital in the first quarter worth about $65,000. Institutional investors own 20.31% of the company's stock.

Insiders Place Their Bets

In other news, CAO Ryan Mchugh acquired 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, with a total value of $150,577.50. Following the purchase, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.83% of the stock is owned by corporate insiders.

Main Street Capital Stock Performance

Shares of NYSE MAIN opened at $57.23 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $5.35 billion, a P/E ratio of 14.55 and a beta of 0.73. The firm's fifty day moving average is $55.51 and its two-hundred day moving average is $55.38. Main Street Capital Corporation has a 52-week low of $48.95 and a 52-week high of $65.23.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $142.53 million for the quarter, compared to the consensus estimate of $145.67 million. As a group, analysts anticipate that Main Street Capital Corporation will post 3.75 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 15th. Investors of record on Monday, March 8th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, March 8th. This represents a $3.24 dividend on an annualized basis and a yield of 5.7%. Main Street Capital's dividend payout ratio is presently 65.84%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup restated a "market outperform" rating on shares of Main Street Capital in a research report on Monday, August 10th. Wall Street Zen downgraded Main Street Capital from a "hold" rating to a "sell" rating in a research report on Sunday, October 11th. Truist Financial increased their target price on Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. UBS Group lifted their target price on Main Street Capital from $57.00 to $58.00 and gave the company a "neutral" rating in a research note on Monday. Finally, Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $61.14.

Main Street Capital Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. It focuses on lower middle market companies and also invests in debt securities issued by middle market businesses.

The company's financing can support business growth, acquisitions, recapitalizations, and management buyouts. Main Street generally works directly with portfolio companies and their owners, offering capital structures tailored to each business's needs.

Founded in 2007 and headquartered in Houston, Texas, Main Street primarily serves businesses in the United States.

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