Equitable Holdings Inc. Purchases New Position in Main Street Capital Corporation $MAIN

Equitable Holdings Inc. acquired a new position in Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 12,515 shares of the financial services provider’s stock, valued at approximately $649,000.

Several other institutional investors also recently bought and sold shares of the company. Garner Asset Management Corp bought a new stake in Main Street Capital during the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Main Street Capital in the 2nd quarter worth $28,000. Smartleaf Asset Management LLC grew its position 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 worth $28,000 after buying an additional 250 shares in the last quarter. Sankala Group LLC bought a new position in shares of Main Street Capital during the 4th quarter worth $29,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Main Street Capital during the fourth quarter valued at $31,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Ryan Mchugh purchased 2,550 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares in the company, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.83% of the company’s stock.

Main Street Capital Trading Down 0.0%

MAIN opened at $58.58 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 11.81 and a beta of 0.71. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.34. The stock has a fifty day moving average price of $54.92 and a 200-day moving average price of $54.60.

Main Street Capital (NYSE:MAIN) last issued 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. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The company had revenue of $327.56 million for the quarter, compared to the consensus estimate of $144.59 million. As a group, equities research analysts anticipate that Main Street Capital Corporation will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The company 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 dividend of $0.265 per share. This represents a c) annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s dividend payout ratio is presently 64.11%.

Analyst Ratings Changes

Several research firms recently weighed in on MAIN. Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company raised their target price on shares of Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada dropped 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. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.83.

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.