Lido Advisors LLC Has $1.56 Million Stock Holdings in Main Street Capital Corporation $MAIN

Lido Advisors LLC raised its stake in Main Street Capital Corporation (NYSE:MAIN) by 134.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,380 shares of the financial services provider’s stock after acquiring an additional 16,860 shares during the quarter. Lido Advisors LLC’s holdings in Main Street Capital were worth $1,556,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Main Street Capital during the first quarter worth $65,000. Signature Equity Partners LLC grew its stake in shares of Main Street Capital by 83.4% in the first quarter. Signature Equity Partners LLC now owns 17,463 shares of the financial services provider’s stock valued at $925,000 after acquiring an additional 7,939 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Main Street Capital during the first quarter worth about $118,000. Bartlett & CO. Wealth Management LLC raised its stake in Main Street Capital by 15.5% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,700 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Main Street Capital by 92.3% in the 1st quarter. Assetmark Inc. now owns 1,450 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 696 shares in the last quarter. Institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

MAIN has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reduced their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Truist Financial cut their price target on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.33.

Main Street Capital Stock Performance

NYSE MAIN opened at $53.36 on Monday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 11.23 and a beta of 0.72. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.77. The stock has a fifty day simple moving average of $51.79 and a 200 day simple moving average of $55.48. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The company had revenue of $73.44 million for the quarter, compared to analyst estimates of $145.23 million. Sell-side analysts expect that Main Street Capital Corporation will post 3.79 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 66.95%.

Insider Activity

In related news, EVP Jason B. Beauvais sold 6,830 shares of the company’s 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 sale, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.83% of the stock is owned by corporate insiders.

Main Street Capital Company Profile

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.