Vise Technologies Inc. Buys New Stake in Main Street Capital Corporation $MAIN

Vise Technologies Inc. bought a new stake in shares of Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,716 shares of the financial services provider’s stock, valued at approximately $608,000.

Other institutional investors also recently added to or reduced their stakes in the company. Corient Private Wealth LLC increased its holdings in shares of Main Street Capital by 3,880.8% during the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock valued at $53,774,000 after purchasing an additional 868,092 shares during the period. UBS Group AG raised its stake in shares of Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after purchasing an additional 534,374 shares in the last quarter. BlackRock Inc. acquired a new stake in Main Street Capital in the second quarter worth about $20,940,000. Goldman Sachs Group Inc. lifted its holdings in Main Street Capital by 637.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock worth $21,547,000 after purchasing an additional 308,404 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Main Street Capital by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock valued at $165,135,000 after buying an additional 162,580 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $58.92 on Tuesday. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.88 and a beta of 0.71. The firm has a 50-day moving average of $54.32 and a two-hundred day moving average of $54.62.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. As a group, analysts expect that Main Street Capital Corporation will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) annualized dividend and a yield of 5.4%. Main Street Capital’s payout ratio is 64.11%.

Insider Activity at Main Street Capital

In related news, CAO Ryan Mchugh purchased 2,550 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the completion of the acquisition, the chief accounting officer owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada dropped their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Truist Financial increased their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.83.

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.