Private Advisor Group LLC Raises Holdings in Main Street Capital Corporation (NYSE:MAIN)

Private Advisor Group LLC raised its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,672 shares of the financial services provider's stock after buying an additional 10,718 shares during the quarter. Private Advisor Group LLC owned about 0.18% of Main Street Capital worth $8,918,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management bought a new stake in shares of Main Street Capital during the 1st quarter valued at $40,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital in the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new position in Main Street Capital in the 4th quarter worth about $46,000. NBC Securities Inc. bought a new position in shares of Main Street Capital during the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC increased its position in shares of Main Street Capital by 5,557.9% during the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 1,056 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Up 0.2%

Shares of MAIN traded up $0.12 during midday trading on Thursday, hitting $65.55. 259,034 shares of the company's stock traded hands, compared to its average volume of 554,051. Main Street Capital Corporation has a 1 year low of $45.00 and a 1 year high of $66.39. The firm's fifty day moving average is $59.05 and its 200-day moving average is $57.85. 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 stock has a market capitalization of $5.84 billion, a price-to-earnings ratio of 11.13 and a beta of 0.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $137.50 million. As a group, sell-side analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Wednesday, July 9th were given a dividend of $0.255 per share. This represents a dividend yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital's payout ratio is presently 51.95%.

Insider Activity at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MAIN. B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Truist Financial dropped their price objective on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a report on Monday, May 12th. UBS Group reiterated a "neutral" rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.