14,584 Shares in Main Street Capital Corporation $MAIN Bought by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in shares of Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,584 shares of the financial services provider’s stock, valued at approximately $757,000.

Other institutional investors also recently bought and sold shares of the company. Adell Harriman & Carpenter Inc. boosted its position in Main Street Capital by 5.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock worth $28,893,000 after purchasing an additional 23,942 shares during the period. Entropy Technologies LP acquired a new stake in shares of Main Street Capital in the first quarter worth $1,964,000. Brighton Jones LLC bought a new stake in shares of Main Street Capital during the 4th quarter worth $304,000. Legal & General Group Plc grew its stake in Main Street Capital by 15.2% in the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock valued at $43,479,000 after buying an additional 95,177 shares during the last quarter. Finally, LGT Fund Management Co Ltd. bought a new position in Main Street Capital in the 1st quarter worth $1,470,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Down 0.1%

Shares of MAIN opened at $58.33 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $54.16 and a two-hundred day moving average price of $54.70. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 11.76 and a beta of 0.71. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.34.

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

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s dividend payout ratio is currently 64.11%.

Wall Street Analyst Weigh In

MAIN has been the subject of several research analyst reports. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wells Fargo & Company lifted their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.83.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the sale, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ryan Mchugh purchased 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The stock was purchased at an average price 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 approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.83% of the company’s stock.

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.