57,752 Shares in Main Street Capital Corporation $MAIN Bought by Fund Advisors of America Inc FL

Fund Advisors of America Inc FL purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,752 shares of the financial services provider’s stock, valued at approximately $2,996,000. Main Street Capital accounts for about 2.7% of Fund Advisors of America Inc FL’s investment portfolio, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Garner Asset Management Corp acquired a new position in Main Street Capital during the fourth quarter worth $28,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Main Street Capital during the second quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Sankala Group LLC bought a new stake in shares of Main Street Capital during the fourth quarter worth about $29,000. Finally, Gilpin Wealth Management LLC bought a new stake in shares of Main Street Capital during the fourth quarter worth about $31,000. Institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MAIN shares. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Wells Fargo & Company boosted their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Truist Financial raised their target price on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings cut Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $60.83.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $58.33 on Friday. The firm has a 50-day moving average of $54.16 and a 200-day moving average of $54.70. The company has a market cap of $5.45 billion, a P/E ratio of 11.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. Main Street Capital Corporation has a one year low of $48.95 and a one year high of $67.34.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results 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 net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Equities research analysts forecast that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) annualized dividend and a yield of 5.5%. Main Street Capital’s dividend payout ratio (DPR) is 64.11%.

Insider Activity at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $59.05 per share, with a total value of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. The trade was a 12.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the sale, the executive vice president directly owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.83% of the stock is owned by company insiders.

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.