Denali Advisors LLC Reduces Holdings in Main Street Capital Corporation $MAIN

Denali Advisors LLC lessened its holdings in Main Street Capital Corporation (NYSE:MAIN) by 21.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,697 shares of the financial services provider’s stock after selling 32,502 shares during the period. Main Street Capital accounts for approximately 0.9% of Denali Advisors LLC’s portfolio, making the stock its 25th largest holding. Denali Advisors LLC’s holdings in Main Street Capital were worth $7,612,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MAIN. Quest 10 Wealth Builders Inc. purchased a new stake in shares of Main Street Capital in the third quarter valued at $25,000. City Holding Co. acquired a new position in Main Street Capital in the 3rd quarter valued at about $26,000. Smartleaf Asset Management LLC raised its stake in Main Street Capital by 109.6% in 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 last quarter. Assetmark Inc. lifted its holdings in Main Street Capital by 203.0% in the 3rd quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 339 shares in the last quarter. Finally, Archer Investment Corp boosted its stake in shares of Main Street Capital by 134.5% during the 3rd quarter. Archer Investment Corp now owns 544 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 312 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $59.48 on Monday. The business’s fifty day moving average price is $61.81 and its 200 day moving average price is $61.70. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $5.33 billion, a P/E ratio of 9.86 and a beta of 0.80.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MAIN shares. B. Riley Financial reduced their price objective on shares of Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Citizens Jmp initiated coverage on Main Street Capital in a research note on Monday, December 8th. They set a “market outperform” rating and a $70.00 price target on the stock. Royal Bank Of Canada lowered their price objective on Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Tuesday, December 9th. JMP Securities set a $70.00 target price on Main Street Capital in a research report on Monday, December 8th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $62.75.

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.