Vestor Capital LLC Acquires 47,118 Shares of Main Street Capital Corporation $MAIN

Key Points

• Vestor Capital significantly increased its Main Street Capital stake by purchasing 47,118 additional shares, bringing its holdings to 48,400 shares worth approximately $2.56 million. Institutional investors collectively own 20.31% of MAIN.
• Analyst sentiment remains mixed, with four Buy ratings and six Holds; the stock has an average rating of Hold and an average price target of $59.33. Main Street Capital recently reported quarterly EPS of $0.93, below the $1.04 consensus estimate.
• Main Street Capital announced a monthly dividend of $0.265 per share, representing a 5.8% annualized yield and a 66.95% payout ratio. Shares recently opened at $54.45, within their 12-month range of $48.95 to $67.77.

Vestor Capital LLC increased its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 3,675.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,400 shares of the financial services provider's stock after purchasing an additional 47,118 shares during the period. Vestor Capital LLC owned approximately 0.05% of Main Street Capital worth $2,563,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MAIN. Arete Wealth Advisors LLC boosted its holdings in shares of Main Street Capital by 6.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 21,664 shares of the financial services provider's stock worth $1,147,000 after buying an additional 1,233 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Main Street Capital during the 1st quarter worth approximately $139,000. NewEdge Advisors LLC increased its stake in shares of Main Street Capital by 517.9% in the 1st quarter. NewEdge Advisors LLC now owns 39,049 shares of the financial services provider's stock valued at $2,068,000 after acquiring an additional 32,729 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of Main Street Capital by 77.8% in the 1st quarter. Centaurus Financial Inc. now owns 2,973 shares of the financial services provider's stock valued at $157,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in shares of Main Street Capital by 3.7% during the 1st quarter. Arkadios Wealth Advisors now owns 33,747 shares of the financial services provider's stock valued at $1,787,000 after acquiring an additional 1,199 shares during the period. 20.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MAIN. Wells Fargo & Company assumed coverage on shares of Main Street Capital in a research note on Friday, May 22nd. They set an "equal weight" rating and a $50.00 target price on the stock. 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. Royal Bank Of Canada dropped their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an "outperform" rating on the stock in a report on Thursday, May 14th. Truist Financial cut their price objective on shares of Main Street Capital from $60.00 to $53.00 and set a "hold" rating on the stock in a research report on Tuesday, May 19th. Finally, Citizens Jmp reduced their target price on Main Street Capital from $74.00 to $70.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Main Street Capital has an average rating of "Hold" and an average target price of $59.33.

Main Street Capital Price Performance

Shares of MAIN opened at $54.45 on Friday. The business's fifty day moving average is $52.07 and its 200 day moving average is $55.28. Main Street Capital Corporation has a 12-month low of $48.95 and a 12-month high of $67.77. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.06 billion, a P/E ratio of 11.46 and a beta of 0.72.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The business had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. Sell-side analysts anticipate that Main Street Capital Corporation will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) annualized dividend and a dividend yield of 5.8%. Main Street Capital's payout ratio is presently 66.95%.

Insider Activity at Main Street Capital

In related news, EVP Jason B. Beauvais sold 6,830 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the sale, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.83% of the stock is currently owned by insiders.

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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