Van ECK Associates Corp Sells 223,648 Shares of Main Street Capital Corporation $MAIN

Van ECK Associates Corp lessened its holdings in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 10.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,885,274 shares of the financial services provider's stock after selling 223,648 shares during the quarter. Van ECK Associates Corp owned 2.02% of Main Street Capital worth $97,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MAIN. Garner Asset Management Corp bought a new stake in Main Street Capital in the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Main Street Capital during the 2nd quarter worth approximately $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock worth $28,000 after purchasing an additional 250 shares during the period. Sankala Group LLC bought a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $29,000. Finally, Gilpin Wealth Management LLC acquired a new stake in Main Street Capital during the fourth quarter worth approximately $31,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Trading Down 0.0%

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

Main Street Capital (NYSE:MAIN - Get Free Report) last issued 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 business had revenue of $327.56 million during the quarter, compared to analysts' expectations of $144.59 million. As a group, sell-side analysts expect that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) annualized dividend and a yield of 5.4%. Main Street Capital's payout ratio is presently 64.11%.

Insider Activity

In related news, CAO Ryan Mchugh acquired 2,550 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the transaction, the chief accounting officer directly owned 22,647 shares of the company's stock, valued at $1,337,305.35. The trade was a 12.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares in the company, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MAIN shares. Wells Fargo & Company upped their target price on Main Street Capital from $50.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. 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 boosted their target price on shares of Main Street Capital from $53.00 to $57.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Weiss Ratings downgraded Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Finally, Citigroup reissued a "market outperform" rating on shares of Main Street Capital in a research note on Monday, August 10th. Three 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 an average rating of "Hold" and a consensus target price 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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