MQS Management LLC Makes New Investment in Main Street Capital Corporation (NYSE:MAIN)

MQS Management LLC purchased a new position in Main Street Capital Corporation (NYSE:MAIN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,528 shares of the financial services provider's stock, valued at approximately $539,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE raised its position in Main Street Capital by 8.4% in the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock worth $151,000 after purchasing an additional 200 shares in the last quarter. Harbour Investments Inc. grew its stake in Main Street Capital by 6.9% during the fourth quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider's stock worth $206,000 after buying an additional 228 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Main Street Capital by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider's stock worth $3,454,000 after buying an additional 229 shares during the last quarter. Uncommon Cents Investing LLC grew its stake in Main Street Capital by 1.4% during the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider's stock worth $917,000 after buying an additional 231 shares during the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in Main Street Capital by 6.8% during the first quarter. Cornerstone Wealth Management LLC now owns 3,807 shares of the financial services provider's stock worth $215,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Price Performance

Shares of MAIN traded up $0.17 during mid-day trading on Tuesday, hitting $63.74. 192,426 shares of the company traded hands, compared to its average volume of 556,542. Main Street Capital Corporation has a one year low of $45.00 and a one year high of $63.97. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $57.27 and a 200 day moving average of $57.52. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 10.82 and a beta of 0.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The business had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. As a group, equities analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Wednesday, July 9th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a yield of 5.18%. Main Street Capital's payout ratio is presently 51.95%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MAIN shares. UBS Group decreased their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Truist Financial decreased their price objective on shares of 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. B. Riley raised shares of Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Finally, Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $52.80.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the sale, the executive vice president directly owned 181,526 shares in the company, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.00% 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.