Mercer Global Advisors Inc. ADV Has $901,000 Stock Position in Main Street Capital Co. (NYSE:MAIN)

Mercer Global Advisors Inc. ADV lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 78.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,383 shares of the financial services provider's stock after selling 56,225 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Main Street Capital were worth $901,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in shares of Main Street Capital in the fourth quarter worth $29,000. Kapitalo Investimentos Ltda bought a new stake in shares of Main Street Capital during the fourth quarter valued at about $45,000. Colonial Trust Advisors bought a new stake in shares of Main Street Capital during the fourth quarter valued at about $46,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital during the third quarter valued at about $50,000. Finally, AdvisorNet Financial Inc raised its stake in shares of Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 729 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial dropped their price target on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research report on Monday. UBS Group dropped their target price on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $51.00.

Main Street Capital Trading Up 1.7%

MAIN traded up $0.92 during midday trading on Monday, reaching $53.87. 738,427 shares of the company were exchanged, compared to its average volume of 451,818. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The stock has a market capitalization of $4.77 billion, a P/E ratio of 9.76 and a beta of 0.86. The stock's 50-day simple moving average is $54.72 and its 200 day simple moving average is $56.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. As a group, analysts forecast that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Main Street Capital's previous monthly dividend of $0.25. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.68%. Main Street Capital's payout ratio is presently 50.93%.

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.