Main Street Capital Corporation $MAIN Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its holdings in Main Street Capital Corporation (NYSE:MAIN) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,437 shares of the financial services provider’s stock after purchasing an additional 13,992 shares during the period. Tectonic Advisors LLC owned approximately 0.17% of Main Street Capital worth $8,777,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC lifted its holdings in Main Street Capital by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock worth $325,000 after buying an additional 207 shares in the last quarter. Riverstone Advisors LLC grew its stake in shares of Main Street Capital by 6.0% in the first quarter. Riverstone Advisors LLC now owns 4,408 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 250 shares in the last quarter. Uncommon Cents Investing Inc grew its stake in shares of Main Street Capital by 1.7% in the third quarter. Uncommon Cents Investing Inc now owns 17,624 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 302 shares in the last quarter. SteelPeak Wealth LLC increased its position in shares of Main Street Capital by 6.3% during the third quarter. SteelPeak Wealth LLC now owns 5,197 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 307 shares during the period. Finally, Brookstone Capital Management increased its position in shares of Main Street Capital by 6.6% during the first quarter. Brookstone Capital Management now owns 5,843 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 362 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ryan Mchugh acquired 2,550 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the completion of the acquisition, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.83% of the stock is owned by corporate insiders.

Main Street Capital Stock Down 1.2%

Shares of NYSE:MAIN traded down $0.62 during trading hours on Friday, reaching $53.48. The stock had a trading volume of 368,539 shares, compared to its average volume of 497,119. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $65.23. The firm’s 50 day moving average is $56.05 and its 200-day moving average is $54.28. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 10.78 and a beta of 0.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS 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 business had revenue of $327.56 million for the quarter, compared to the consensus estimate of $144.59 million. Research analysts predict that Main Street Capital Corporation will post 3.75 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a $0.2650 dividend. This represents a $3.18 annualized dividend and a yield of 5.9%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s dividend payout ratio is currently 64.11%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. UBS Group lowered their target price on Main Street Capital from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Wells Fargo & Company raised Main Street Capital from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $55.00 to $60.00 in a research report on Tuesday, September 29th. Finally, Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $61.00.

Main Street Capital Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.