Royal Bank of Canada Has $10.45 Million Stock Holdings in Main Street Capital Corporation $MAIN

Key Points

• Royal Bank of Canada increased its investment in Main Street Capital Corporation by 3.6%, owning 184,727 shares valued at approximately $10.45 million as of its latest reporting period.
• Main Street Capital's stock is currently priced at $67.19, with a 12-month range between $47.00 and $67.77, and the company recently announced a monthly dividend of $0.255 per share.
• Analysts have a consensus rating of "Moderate Buy" for Main Street Capital, with price targets ranging from $54.00 to $67.00, indicating potential growth in the coming fiscal year.

Royal Bank of Canada raised its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,727 shares of the financial services provider's stock after buying an additional 6,341 shares during the quarter. Royal Bank of Canada owned 0.21% of Main Street Capital worth $10,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital in the 1st quarter valued at $39,000. Spire Wealth Management acquired a new position in Main Street Capital in the 1st quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new position in Main Street Capital in the 1st quarter valued at $41,000. Quarry LP acquired a new position in Main Street Capital in the 1st quarter valued at $48,000. Finally, NBC Securities Inc. acquired a new position in Main Street Capital in the 1st quarter valued at $54,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Main Street Capital stock opened at $67.19 on Friday. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The business's 50-day moving average price is $64.84 and its two-hundred day moving average price is $59.07. The stock has a market cap of $6.01 billion, a PE ratio of 11.07 and a beta of 0.88.

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

Main Street Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of research reports. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Truist Financial raised their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. UBS Group restated a "neutral" rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada raised their price target on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.20.

Insider Activity at Main Street Capital

In other Main Street Capital news, 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 value of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

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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