Taylor Frigon Capital Management LLC Buys 5,772 Shares of Main Street Capital Corporation $MAIN

Key Points

• Taylor Frigon Capital Management LLC increased its stake in Main Street Capital by 12.8% in the second quarter, owning a total of 50,960 shares valued at approximately $3 million.
• Main Street Capital's recent quarterly earnings met expectations with $0.99 earnings per share, and the company also announced a quarterly dividend of $0.30 per share, representing a 1.9% yield.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Main Street Capital, with price targets ranging from $58.00 to $67.00.

Taylor Frigon Capital Management LLC lifted its stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,960 shares of the financial services provider's stock after purchasing an additional 5,772 shares during the quarter. Main Street Capital comprises approximately 1.6% of Taylor Frigon Capital Management LLC's portfolio, making the stock its 7th biggest position. Taylor Frigon Capital Management LLC owned about 0.06% of Main Street Capital worth $3,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT raised its position in Main Street Capital by 0.4% during the 2nd quarter. Albion Financial Group UT now owns 95,112 shares of the financial services provider's stock worth $5,621,000 after buying an additional 345 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Main Street Capital by 3.2% during the second quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider's stock worth $20,438,000 after acquiring an additional 10,819 shares during the period. Uncommon Cents Investing LLC increased its stake in shares of Main Street Capital by 1.4% during the second quarter. Uncommon Cents Investing LLC now owns 16,437 shares of the financial services provider's stock worth $971,000 after acquiring an additional 231 shares during the period. American National Bank & Trust purchased a new position in Main Street Capital during the second quarter worth about $355,000. Finally, MKT Advisors LLC acquired a new stake in Main Street Capital in the second quarter valued at about $203,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director owned 82,383 shares of the company's stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. 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 upped their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. UBS Group reissued a "neutral" rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada increased their price target on shares of Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Main Street Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $63.71 on Monday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 10.50 and a beta of 0.88. The company's 50-day moving average price is $65.31 and its 200 day moving average price is $59.60. 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 results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The company had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. As a group, research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th. Main Street Capital's dividend payout ratio is currently 50.41%.

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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