Paradiem LLC Sells 84,750 Shares of Main Street Capital Corporation (NYSE:MAIN)

Paradiem LLC lessened its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 30.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,843 shares of the financial services provider's stock after selling 84,750 shares during the period. Main Street Capital makes up 3.1% of Paradiem LLC's portfolio, making the stock its 15th biggest position. Paradiem LLC owned approximately 0.22% of Main Street Capital worth $11,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Main Street Capital in the 4th quarter worth $304,000. Private Advisor Group LLC lifted its holdings in shares of Main Street Capital by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 146,954 shares of the financial services provider's stock valued at $8,609,000 after purchasing an additional 12,729 shares in the last quarter. Sigma Planning Corp lifted its holdings in shares of Main Street Capital by 10.8% in the fourth quarter. Sigma Planning Corp now owns 44,706 shares of the financial services provider's stock valued at $2,619,000 after purchasing an additional 4,342 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Main Street Capital during the fourth quarter worth about $910,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Main Street Capital by 56.8% during the fourth quarter. Bank of New York Mellon Corp now owns 29,316 shares of the financial services provider's stock worth $1,717,000 after buying an additional 10,625 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MAIN shares. UBS Group reduced their target price on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Truist Financial cut their price target on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday, May 12th. B. Riley upgraded shares of Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Main Street Capital currently has an average rating of "Hold" and an average target price of $52.80.

Insiders Place Their Bets

In other news, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.09% of the company's stock.

Main Street Capital Stock Performance

NYSE:MAIN traded down $0.09 during mid-day trading on Monday, hitting $57.99. The stock had a trading volume of 386,787 shares, compared to its average volume of 471,489. Main Street Capital Corporation has a twelve month low of $45.00 and a twelve month high of $63.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 9.85 and a beta of 0.82. The company's 50 day simple moving average is $55.37 and its 200 day simple moving average is $57.09.

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

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 23rd will be given a dividend of $0.30 per share. This represents a yield of 7.26%. This is a boost from Main Street Capital's previous dividend of $0.25. The ex-dividend date of this dividend is Friday, June 20th. Main Street Capital's payout ratio is 50.93%.

About Main Street Capital

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.