Accurate Wealth Management LLC Makes New Investment in Main Street Capital Corporation $MAIN

Accurate Wealth Management LLC purchased a new position in shares of Main Street Capital Corporation (NYSE:MAIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,882 shares of the financial services provider’s stock, valued at approximately $242,000.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Main Street Capital by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 2,756 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Main Street Capital by 10.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock worth $13,736,000 after acquiring an additional 22,340 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Main Street Capital during the 1st quarter worth about $578,000. Segment Wealth Management LLC boosted its position in shares of Main Street Capital by 134.3% during the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock worth $6,674,000 after acquiring an additional 67,626 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Main Street Capital during the 1st quarter worth about $6,205,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insiders Place Their Bets

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Main Street Capital Stock Down 0.0%

Shares of NYSE MAIN opened at $63.71 on Friday. The stock has a market cap of $5.70 billion, a PE ratio of 10.50 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The business has a 50-day moving average price of $65.31 and a 200 day moving average price of $59.54.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Equities research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 50.41%.

Analyst Upgrades and Downgrades

MAIN has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. B. Riley upped their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. UBS Group reaffirmed a “neutral” rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Truist Financial upped their target price on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.