Sanctuary Advisors LLC Acquires New Shares in Main Street Capital Corporation $MAIN

Key Points

• Sanctuary Advisors LLC acquired 17,460 shares of Main Street Capital in the second quarter, valued at approximately $906,000. Institutional investors and hedge funds collectively own 20.31% of the company.
• Main Street Capital reported quarterly EPS of $0.97, slightly above analysts’ $0.96 estimate, on revenue of $327.56 million. The company also announced a monthly dividend of $0.265 per share, representing an annualized yield of about 5.4%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $60.83. MAIN shares opened at $58.58, while insider activity included a purchase by Chief Accounting Officer Ryan Mchugh and a sale by EVP Jason B. Beauvais.

Sanctuary Advisors LLC bought a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,460 shares of the financial services provider's stock, valued at approximately $906,000.

Several other hedge funds also recently bought and sold shares of MAIN. Prospera Financial Services Inc raised its stake in shares of Main Street Capital by 0.4% during the 4th quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider's stock worth $2,915,000 after purchasing an additional 194 shares in the last quarter. SMH Capital Advisors Inc. grew its stake in shares of Main Street Capital by 1.1% in the 4th quarter. SMH Capital Advisors Inc. now owns 18,884 shares of the financial services provider's stock valued at $1,140,000 after buying an additional 206 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Main Street Capital by 3.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider's stock valued at $325,000 after buying an additional 207 shares in the last quarter. Lido Advisors LLC increased its holdings in Main Street Capital by 1.7% in the fourth quarter. Lido Advisors LLC now owns 12,520 shares of the financial services provider's stock worth $794,000 after buying an additional 209 shares during the last quarter. Finally, Freedom Financial Partners LLC increased its holdings in Main Street Capital by 4.1% in the first quarter. Freedom Financial Partners LLC now owns 5,577 shares of the financial services provider's stock worth $295,000 after buying an additional 221 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Ryan Mchugh bought 2,550 shares of the business's stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $59.05 per share, with a total value of $150,577.50. Following the transaction, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. The trade was a 12.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jason B. Beauvais sold 6,830 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company's stock, valued at $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.83% of the company's stock.

Main Street Capital Stock Down 0.0%

Shares of MAIN stock opened at $58.58 on Friday. The stock's 50 day simple moving average is $54.92 and its 200 day simple moving average is $54.60. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 11.81 and a beta of 0.71.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The firm had revenue of $327.56 million during the quarter, compared to analysts' expectations of $144.59 million. As a group, research analysts predict that Main Street Capital Corporation will post 3.77 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a yield of 5.4%. Main Street Capital's dividend payout ratio (DPR) is presently 64.11%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MAIN shares. Wall Street Zen cut shares of Main Street Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Main Street Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Truist Financial raised their price target on shares of Main Street Capital from $53.00 to $57.00 and gave the company a "hold" rating in a report on Monday, August 10th. Wells Fargo & Company raised their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, August 10th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Main Street Capital in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Main Street Capital has a consensus rating of "Hold" and a consensus price target of $60.83.

About Main Street Capital

Main Street Capital Corporation NYSE: MAIN is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm's management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital's primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.

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