LGT Fund Management Co Ltd. Makes New Investment in Main Street Capital Corporation $MAIN

LGT Fund Management Co Ltd. purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) during the 1st quarter, Holdings Channel.com reports. The firm purchased 27,752 shares of the financial services provider’s stock, valued at approximately $1,470,000.

A number of other institutional investors also recently modified their holdings of the company. Garner Asset Management Corp bought a new position in shares of Main Street Capital during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in Main Street Capital by 109.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Sankala Group LLC bought a new stake in Main Street Capital in the 4th quarter valued at approximately $29,000. Investors Research Corp bought a new stake in Main Street Capital in the 4th quarter valued at approximately $30,000. Finally, Gilpin Wealth Management LLC acquired a new position in Main Street Capital during the 4th quarter worth approximately $31,000. 20.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the transaction, the executive vice president owned 196,185 shares in the company, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.83% of the company’s stock.

Wall Street Analyst Weigh In

MAIN has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company started coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price objective on the stock. Zacks Research cut shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.14.

Main Street Capital Stock Performance

NYSE MAIN opened at $52.87 on Monday. The firm has a market capitalization of $4.92 billion, a P/E ratio of 11.13 and a beta of 0.72. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $51.79 and its two-hundred day moving average price is $55.95. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The firm had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. As a group, research analysts anticipate that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be paid a $0.265 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is 66.95%.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.