The Manufacturers Life Insurance Company acquired a new stake in Main Street Capital Corporation (NYSE:MAIN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 28,924 shares of the financial services provider's stock, valued at approximately $1,501,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc lifted its position in Main Street Capital by 0.4% during the fourth quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider's stock worth $2,915,000 after buying an additional 194 shares during the period. SMH Capital Advisors Inc. grew its holdings in 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 during the period. Sequoia Financial Advisors LLC increased its stake in shares of Main Street Capital by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider's stock valued at $325,000 after acquiring an additional 207 shares during the last quarter. Lido Advisors LLC increased its stake in shares of Main Street Capital by 1.7% during the 4th quarter. Lido Advisors LLC now owns 12,520 shares of the financial services provider's stock valued at $794,000 after acquiring an additional 209 shares during the last quarter. Finally, Freedom Financial Partners LLC lifted its holdings in shares of Main Street Capital by 4.1% during the 1st quarter. Freedom Financial Partners LLC now owns 5,577 shares of the financial services provider's stock worth $295,000 after acquiring an additional 221 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Main Street Capital
In related news, EVP Jason B. Beauvais sold 6,830 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the sale, the executive vice president directly owned 196,185 shares of the company's stock, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ryan Mchugh purchased 2,550 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the completion of the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. This represents a 12.69% increase in their position. The SEC filing for this purchase provides additional information. 3.83% of the stock is owned by corporate insiders.
Main Street Capital Stock Performance
NYSE MAIN opened at $58.17 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.34. The firm has a market capitalization of $5.44 billion, a P/E ratio of 11.73 and a beta of 0.72. The business's 50-day simple moving average is $55.56 and its 200-day simple moving average is $54.48.
Main Street Capital (NYSE:MAIN - Get Free Report) last posted 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 net margin of 78.49% and a return on equity of 11.80%. The firm had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Equities analysts predict that Main Street Capital Corporation will post 3.77 EPS for the current year.
Main Street Capital Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) annualized dividend and a dividend yield of 5.5%. Main Street Capital's dividend payout ratio is presently 64.11%.
Analysts Set New Price Targets
Several research firms recently issued reports on MAIN. Wall Street Zen cut shares of Main Street Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Citigroup reaffirmed a "market outperform" rating on shares of Main Street Capital in a research note on Monday, August 10th. Wells Fargo & Company lifted 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. Zacks Research raised shares of Main Street Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada dropped their price objective on Main Street Capital from $66.00 to $58.00 and set an "outperform" rating for the company in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $60.83.
Check Out Our Latest Research Report on MAIN
Main Street Capital Profile
(
Free Report)
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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