109,714 Shares in Main Street Capital Corporation (NYSE:MAIN) Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. acquired a new position in Main Street Capital Corporation, purchasing 109,714 shares valued at approximately $6.2 million, representing a 0.12% ownership of the company.
• Main Street Capital recently reported earnings of $1.01 per share, slightly exceeding expectations, although revenue fell short of estimates at $137.05 million.
• The company has cut its dividend yield to 5.18% after a recent payment of $0.255 per share, and analysts have mixed ratings for its stock, including a downgrade to "sell" by Wall Street Zen.

Victory Capital Management Inc. bought a new stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 109,714 shares of the financial services provider's stock, valued at approximately $6,205,000. Victory Capital Management Inc. owned approximately 0.12% of Main Street Capital at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Burgundy Asset Management Ltd. raised its stake in shares of Main Street Capital by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider's stock valued at $67,578,000 after purchasing an additional 17,196 shares during the period. Adell Harriman & Carpenter Inc. lifted its holdings in Main Street Capital by 5.2% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider's stock valued at $25,319,000 after acquiring an additional 22,090 shares during the last quarter. LPL Financial LLC raised its holdings in Main Street Capital by 1.6% during the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock worth $17,525,000 after buying an additional 4,740 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Main Street Capital by 10.1% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider's stock valued at $13,736,000 after buying an additional 22,340 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its holdings in Main Street Capital by 0.7% during the first quarter. Sanders Morris Harris LLC now owns 207,274 shares of the financial services provider's stock valued at $11,723,000 after purchasing an additional 1,477 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAIN has been the subject of several research reports. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. B. Riley upgraded Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a report on Saturday. UBS Group reissued a "neutral" rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Finally, Truist Financial reduced their target price on Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a report on Monday, May 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $53.60.

Main Street Capital Trading Down 1.3%

MAIN stock traded down $0.82 during trading on Tuesday, hitting $64.33. 179,756 shares of the company traded hands, compared to its average volume of 551,431. The company has a 50-day moving average of $59.67 and a 200-day moving average of $58.00. The firm has a market capitalization of $5.73 billion, a PE ratio of 10.91 and a beta of 0.82. Main Street Capital Corporation has a 1 year low of $45.00 and a 1 year high of $66.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. The company had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million. Analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, July 15th. Investors of record on Wednesday, July 9th were given a $0.255 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a yield of 5.18%. Main Street Capital's payout ratio is 51.95%.

Insider Activity

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction dated 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 owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.09% of the company's stock.

Main Street Capital Company 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.