Main Street Capital Corporation $MAIN Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 9.6% during the third quarter, Holdings Channel reports. The firm owned 159,437 shares of the financial services provider’s stock after acquiring an additional 13,992 shares during the quarter. Tectonic Advisors LLC’s holdings in Main Street Capital were worth $8,777,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Main Street Capital in the 2nd quarter valued at about $28,000. Fifth Third Bancorp purchased a new position in Main Street Capital during the 1st quarter worth approximately $57,000. Root Financial Partners LLC acquired a new position in Main Street Capital during the third quarter worth approximately $64,000. State of Wyoming acquired a new position in Main Street Capital during the first quarter worth approximately $65,000. Finally, CX Institutional acquired a new position in Main Street Capital during the third quarter worth approximately $65,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Main Street Capital stock traded down $0.62 during mid-day trading on Friday, hitting $53.48. 368,539 shares of the company were exchanged, compared to its average volume of 497,119. Main Street Capital Corporation has a 12-month low of $48.95 and a 12-month high of $65.23. The company has a market capitalization of $5.00 billion, a P/E ratio of 10.78 and a beta of 0.74. The business’s 50 day simple moving average is $56.05 and its two-hundred day simple moving average is $54.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $327.56 million during the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. Analysts forecast that Main Street Capital Corporation will post 3.75 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

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 issued a $0.2650 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $3.18 annualized dividend and a yield of 5.9%. Main Street Capital’s payout ratio is 64.11%.

Analyst Ratings Changes

MAIN has been the subject of several research reports. Truist Financial upped their price target on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company upgraded shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $60.00 in a research note on Tuesday, September 29th. Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Finally, Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.00.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the transaction, the chief accounting officer owned 22,647 shares of the company’s stock, valued at $1,337,305.35. This represents a 12.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.83% of the stock is currently owned by corporate insiders.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.