First Trust Advisors LP Acquires New Position in Main Street Capital Co. (NYSE:MAIN)

First Trust Advisors LP bought a new stake in Main Street Capital Co. (NYSE:MAIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 103,427 shares of the financial services provider's stock, valued at approximately $6,059,000. First Trust Advisors LP owned approximately 0.12% of Main Street Capital as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. US Bancorp DE boosted its stake in Main Street Capital by 8.4% in the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock valued at $151,000 after acquiring an additional 200 shares during the period. PFG Investments LLC boosted its position in Main Street Capital by 1.6% during the 4th quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider's stock valued at $799,000 after purchasing an additional 219 shares during the period. Harbour Investments Inc. increased its position in Main Street Capital by 6.9% in the fourth quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider's stock worth $206,000 after buying an additional 228 shares during the period. Wedbush Securities Inc. lifted its stake in Main Street Capital by 6.2% in the fourth quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider's stock valued at $269,000 after buying an additional 266 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its holdings in shares of Main Street Capital by 4.8% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 6,285 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 285 shares during the period. Institutional investors own 20.31% of the company's stock.

Analyst Upgrades and Downgrades

MAIN has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 3rd. UBS Group reduced their price objective on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $52.60.

Insider Activity at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.00% of the company's stock.

Main Street Capital Price Performance

NYSE:MAIN traded down $0.23 during midday trading on Monday, hitting $53.60. 315,434 shares of the stock were exchanged, compared to its average volume of 562,620. The business has a 50-day moving average price of $55.39 and a two-hundred day moving average price of $56.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 9.71 and a beta of 0.98. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.31.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Sell-side analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Cuts Dividend

The firm also recently announced a dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 9th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a dividend yield of 5.7%. Main Street Capital's payout ratio is currently 51.37%.

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.