NewEdge Advisors LLC Acquires 32,729 Shares of Main Street Capital Corporation $MAIN

NewEdge Advisors LLC raised its holdings in Main Street Capital Corporation (NYSE:MAIN) by 517.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,049 shares of the financial services provider’s stock after buying an additional 32,729 shares during the quarter. NewEdge Advisors LLC’s holdings in Main Street Capital were worth $2,068,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in shares of Main Street Capital during the fourth quarter worth approximately $304,000. Guggenheim Capital LLC grew its stake in shares of Main Street Capital by 4.8% in the second quarter. Guggenheim Capital LLC now owns 12,492 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 570 shares during the last quarter. First Trust Advisors LP increased its position in Main Street Capital by 2.3% during the second quarter. First Trust Advisors LP now owns 188,296 shares of the financial services provider’s stock worth $11,128,000 after acquiring an additional 4,317 shares during the period. Jump Financial LLC bought a new position in Main Street Capital during the second quarter worth $228,000. Finally, Qube Research & Technologies Ltd raised its stake in Main Street Capital by 43.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 163,988 shares of the financial services provider’s stock valued at $9,692,000 after purchasing an additional 49,899 shares during the last quarter. 20.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAIN has been the subject of a number of research reports. Wall Street Zen downgraded shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Wells Fargo & Company initiated coverage on shares of Main Street Capital in a report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price objective on the stock. Royal Bank Of Canada cut their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Citizens Jmp reduced their target price on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.33.

Main Street Capital Trading Up 0.1%

MAIN stock opened at $54.48 on Friday. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.77. The firm has a market cap of $5.07 billion, a P/E ratio of 11.47 and a beta of 0.72. The business’s 50 day moving average is $52.17 and its 200-day moving average is $55.27. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The company had revenue of $73.44 million during the quarter, compared to analyst estimates of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Equities analysts anticipate that Main Street Capital Corporation will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio is currently 66.95%.

Insider Activity

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction 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 of the company’s stock, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.83% of the company’s stock.

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.