Sound Income Strategies LLC Has $18.95 Million Position in Main Street Capital Corporation (NYSE:MAIN)

Sound Income Strategies LLC reduced its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,008 shares of the financial services provider's stock after selling 8,032 shares during the quarter. Main Street Capital accounts for about 1.1% of Sound Income Strategies LLC's holdings, making the stock its 27th biggest position. Sound Income Strategies LLC owned approximately 0.38% of Main Street Capital worth $18,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Burgundy Asset Management Ltd. increased its stake in Main Street Capital by 1.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock valued at $67,578,000 after buying an additional 17,196 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its position in Main Street Capital by 1.5% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider's stock worth $24,929,000 after purchasing an additional 6,297 shares during the last quarter. LPL Financial LLC grew its stake in Main Street Capital by 1.6% in the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock valued at $17,525,000 after purchasing an additional 4,740 shares during the period. Muzinich & Co. Inc. raised its stake in shares of Main Street Capital by 5.0% during the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider's stock worth $13,062,000 after purchasing an additional 10,593 shares during the period. Finally, Sanders Morris Harris LLC raised its stake in shares of Main Street Capital by 0.7% during the 1st quarter. Sanders Morris Harris LLC now owns 207,274 shares of the financial services provider's stock worth $11,723,000 after purchasing an additional 1,477 shares during the period. Institutional investors and hedge funds own 20.31% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MAIN. UBS Group dropped their target price on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. B. Riley upgraded shares of Main Street Capital to a "hold" rating in a research report on Monday. Truist Financial decreased their price objective on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 12th. Finally, Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $52.80.

Insider Transactions at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now owns 377,182 shares of the company's stock, valued at $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.09% of the company's stock.

Main Street Capital Stock Up 1.0%

Shares of MAIN stock traded up $0.55 during mid-day trading on Wednesday, hitting $58.46. The stock had a trading volume of 402,818 shares, compared to its average volume of 470,288. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The firm's 50-day moving average is $54.90 and its two-hundred day moving average is $57.00. Main Street Capital Corporation has a 12-month low of $45.00 and a 12-month high of $63.32. The firm has a market capitalization of $5.20 billion, a P/E ratio of 9.93 and a beta of 0.82.

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

Main Street Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 23rd will be paid a $0.30 dividend. This represents a dividend yield of 7.26%. This is an increase 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%.

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.