Pembroke Management LTD Sells 9,124 Shares of Main Street Capital Corporation $MAIN

Key Points

• Pembroke Management LTD reduced its stake in Main Street Capital Corporation by 11.7%, selling 9,124 shares and retaining 68,997 shares valued at approximately $3.9 million.
• Executive Vice President Jason B. Beauvais sold 13,664 shares at an average price of $59.37, resulting in a decrease of 7.00% in his ownership.
• Main Street Capital has announced a monthly dividend of $0.255 per share, with a yield of 4.6% scheduled for payment on November 14th.

Pembroke Management LTD cut its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,997 shares of the financial services provider's stock after selling 9,124 shares during the period. Pembroke Management LTD owned approximately 0.08% of Main Street Capital worth $3,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MAIN. Mirae Asset Global Investments Co. Ltd. lifted its position in Main Street Capital by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider's stock worth $468,000 after acquiring an additional 2,756 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted 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 worth $13,736,000 after acquiring an additional 22,340 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Main Street Capital during the 1st quarter worth $578,000. Segment Wealth Management LLC lifted its position in Main Street Capital by 134.3% during the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock worth $6,674,000 after acquiring an additional 67,626 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Main Street Capital during the 1st quarter worth $6,205,000. 20.31% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jason B. Beauvais sold 13,664 shares of the 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 owned 181,526 shares of the company's stock, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares of the company's stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Main Street Capital Stock Up 1.7%

Shares of MAIN opened at $65.83 on Friday. The company has a 50-day simple moving average of $63.40 and a 200-day simple moving average of $58.75. The firm has a market capitalization of $5.89 billion, a P/E ratio of 10.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. On average, equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, November 7th will be given a $0.255 dividend. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, November 7th. Main Street Capital's dividend payout ratio is 50.41%.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of research analyst reports. 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. Royal Bank Of Canada boosted their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday. UBS Group reissued a "neutral" rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, B. Riley boosted their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

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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