Rockefeller Capital Management L.P. Trims Stock Holdings in Main Street Capital Corporation $MAIN

Rockefeller Capital Management L.P. decreased its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 26.5% during the fourth quarter, HoldingsChannel reports. The fund owned 54,577 shares of the financial services provider’s stock after selling 19,651 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Main Street Capital were worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Garner Asset Management Corp bought a new position in shares of Main Street Capital in the fourth quarter worth $28,000. Smartleaf Asset Management LLC raised its stake in shares of Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Sankala Group LLC purchased a new stake in Main Street Capital during the 4th quarter worth about $29,000. Investors Research Corp purchased a new stake in Main Street Capital during the 4th quarter worth about $30,000. Finally, Gilpin Wealth Management LLC bought a new position in Main Street Capital in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Up 0.0%

MAIN opened at $51.03 on Monday. Main Street Capital Corporation has a one year low of $48.95 and a one year high of $67.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The business has a 50 day simple moving average of $52.24 and a two-hundred day simple moving average of $56.60. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 10.74 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Analysts predict that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 6.2%. Main Street Capital’s payout ratio is 65.68%.

Wall Street Analyst Weigh In

MAIN has been the subject of a number of recent 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. Truist Financial dropped their target price on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Zacks Research lowered Main Street Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Royal Bank Of Canada reduced 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. Finally, Wells Fargo & Company started coverage on shares of Main Street Capital in a research note on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price target on the stock. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.14.

Main Street Capital 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.