Trinity Legacy Partners LLC Decreases Stock Position in Main Street Capital Corporation $MAIN

Key Points

• Trinity Legacy Partners LLC reduced its stock holdings in Main Street Capital Corporation by 9.3%, retaining approximately 186,142 shares, making it the 9th largest position in their investment portfolio.
• Main Street Capital announced a monthly dividend of $0.255 per share, with an annualized yield of 4.7%, payable on December 15th.
• Wall Street analysts have reacted positively, with multiple firms increasing their price targets for Main Street Capital, now averaging around $64.00 and receiving an overall "Hold" consensus rating.

Trinity Legacy Partners LLC decreased its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,142 shares of the financial services provider's stock after selling 19,070 shares during the quarter. Main Street Capital accounts for approximately 2.5% of Trinity Legacy Partners LLC's investment portfolio, making the stock its 9th largest position. Trinity Legacy Partners LLC owned 0.21% of Main Street Capital worth $10,046,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital during the 1st quarter worth approximately $39,000. Spire Wealth Management bought a new stake in shares of Main Street Capital during the first quarter worth $40,000. Wellington Shields & Co. LLC bought a new stake in shares of Main Street Capital during the first quarter worth $41,000. Kapitalo Investimentos Ltda acquired a new position in shares of Main Street Capital during the fourth quarter worth $45,000. Finally, NBC Securities Inc. bought a new position in shares of Main Street Capital in the 1st quarter valued at $54,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Trading Down 0.9%

MAIN opened at $65.0810 on Friday. The company has a fifty day moving average price of $62.86 and a two-hundred day moving average price of $58.64. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a market cap of $5.82 billion, a P/E ratio of 10.72 and a beta of 0.85. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, December 8th. This represents a c) annualized dividend and a dividend yield of 4.7%. Main Street Capital's payout ratio is currently 50.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective 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. B. Riley boosted their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Finally, Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of "Hold" and an average price target of $59.75.

Insider Buying and Selling

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. 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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