Virtu Financial LLC Invests $1.08 Million in Main Street Capital Corporation (NYSE:MAIN)

Key Points

• Virtu Financial LLC has purchased a new stake in Main Street Capital Corporation, acquiring 19,150 shares valued at approximately $1,083,000.
• Several institutional investors, including Mirae Asset Global Investments and Victory Capital Management, have also significantly increased their stakes in Main Street Capital during the first quarter.
• Main Street Capital announced a monthly dividend of $0.255, which will be paid to shareholders on December 15th, reflecting a 4.6% yield based on the current dividend payout ratio.

Virtu Financial LLC purchased a new stake in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,150 shares of the financial services provider's stock, valued at approximately $1,083,000.

Several other hedge funds have also added to or reduced their stakes in the business. Spire Wealth Management bought a new position in Main Street Capital during the first quarter worth about $40,000. Wellington Shields & Co. LLC bought a new position in Main Street Capital during the first quarter worth about $41,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital during the fourth quarter worth about $45,000. NBC Securities Inc. bought a new position in Main Street Capital during the first quarter worth about $54,000. Finally, GAMMA Investing LLC increased its position in Main Street Capital by 5,557.9% during the first quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock worth $61,000 after acquiring an additional 1,056 shares during the period. Institutional investors and hedge funds own 20.31% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group reaffirmed a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. B. Riley raised Main Street Capital to a "hold" rating in a research note on Monday, June 16th. Finally, Truist Financial boosted their price target on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $56.50.

Main Street Capital Price Performance

MAIN stock traded down $0.97 during midday trading on Friday, reaching $66.18. The company had a trading volume of 390,063 shares, compared to its average volume of 504,203. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 10.90 and a beta of 0.85. The stock has a 50 day moving average price of $62.12 and a 200-day moving average price of $58.51. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.10.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. The firm had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. Equities research analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.255 dividend. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, December 8th. Main Street Capital's payout ratio is currently 50.41%.

Insider Transactions at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director owned 82,383 shares in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

About Main Street Capital

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.