IFP Advisors Inc Sells 577 Shares of Main Street Capital Corporation $MAIN

IFP Advisors Inc decreased its position in Main Street Capital Corporation (NYSE:MAIN) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,695 shares of the financial services provider’s stock after selling 577 shares during the period. IFP Advisors Inc’s holdings in Main Street Capital were worth $100,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MAIN. Jones Financial Companies Lllp boosted its stake in Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares in the last quarter. Invesco Ltd. lifted its stake in Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after acquiring an additional 393,101 shares during the period. Victory Capital Management Inc. bought a new position in Main Street Capital during the 1st quarter valued at about $6,205,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Main Street Capital during the 1st quarter valued at about $4,840,000. Finally, J.W. Cole Advisors Inc. lifted its stake in Main Street Capital by 272.8% during the 1st quarter. J.W. Cole Advisors Inc. now owns 84,925 shares of the financial services provider’s stock valued at $4,803,000 after acquiring an additional 62,142 shares during the period. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Up 1.6%

Main Street Capital stock opened at $58.15 on Monday. The firm has a 50 day moving average of $63.97 and a 200 day moving average of $59.88. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 9.58 and a beta of 0.87. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. As a group, research analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, October 8th. Main Street Capital’s dividend payout ratio (DPR) is 50.41%.

Insider Transactions at Main Street Capital

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.09% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MAIN has been the topic of several research analyst reports. Royal Bank Of Canada upped their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. UBS Group restated a “neutral” rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Weiss Ratings restated a “buy (b+)” rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Zacks Research lowered shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Truist Financial lowered their price objective on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average target price of $60.40.

Main Street Capital 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.