MGB Wealth Management LLC Raises Holdings in Main Street Capital Corporation (NYSE:MAIN)

Key Points

• MGB Wealth Management LLC increased its holdings in Main Street Capital by 101.8% in Q1, now owning 95,566 shares worth approximately $5.5 million.
• Main Street Capital reported Q1 earnings of $1.01 per share, slightly above the consensus estimate, with a net margin of 94.61%.
• The company declared a dividend of $0.255 per share to be paid on August 15th, with a dividend yield of 473.0%.

MGB Wealth Management LLC lifted its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 101.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,566 shares of the financial services provider's stock after acquiring an additional 48,207 shares during the quarter. Main Street Capital accounts for about 2.0% of MGB Wealth Management LLC's holdings, making the stock its 9th biggest position. MGB Wealth Management LLC owned about 0.11% of Main Street Capital worth $5,499,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. lifted its stake in Main Street Capital by 1.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock valued at $67,578,000 after buying an additional 17,196 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its stake in Main Street Capital by 5.2% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock valued at $25,319,000 after buying an additional 22,090 shares in the last quarter. LPL Financial LLC lifted its stake in Main Street Capital by 2.7% in the 1st quarter. LPL Financial LLC now owns 307,368 shares of the financial services provider's stock valued at $17,385,000 after buying an additional 8,203 shares in the last quarter. Muzinich & Co. Inc. lifted its stake in Main Street Capital by 10.8% in the 1st 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. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Main Street Capital by 10.1% in 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 buying an additional 22,340 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

Main Street Capital Trading Up 3.3%

Shares of MAIN stock traded up $2.07 on Friday, reaching $65.60. 762,277 shares of the stock were exchanged, compared to its average volume of 481,506. The stock has a market cap of $5.84 billion, a P/E ratio of 10.81 and a beta of 0.85. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $61.13 and a two-hundred day moving average of $58.29. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $66.39.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.82% and a net margin of 96.16%. The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. On average, research analysts anticipate that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.255 dividend. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, December 8th. Main Street Capital's dividend payout ratio is currently 51.95%.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares of the company's stock, valued at $10,777,198.62. This represents a 7.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

MAIN has been the topic of a number of recent analyst reports. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. UBS Group reissued a "neutral" rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Finally, Truist Financial reduced their price target on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and a consensus price target of $53.60.

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.