Lido Advisors LLC Increases Position in Main Street Capital Corporation $MAIN

Lido Advisors LLC lifted its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 134.7% in the first quarter, HoldingsChannel.com reports. The fund owned 29,380 shares of the financial services provider’s stock after acquiring an additional 16,860 shares during the period. Lido Advisors LLC’s holdings in Main Street Capital were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MAIN. Brighton Jones LLC bought a new position in Main Street Capital in the 4th quarter valued at $304,000. NewEdge Advisors LLC raised its stake in shares of Main Street Capital by 5,416.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,625 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Main Street Capital by 4.8% in the 2nd quarter. Guggenheim Capital LLC now owns 12,492 shares of the financial services provider’s stock worth $738,000 after buying an additional 570 shares during the last quarter. First Trust Advisors LP grew 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 valued at $11,128,000 after buying an additional 4,317 shares during the period. Finally, Jump Financial LLC purchased a new position in Main Street Capital in the second quarter valued at about $228,000. 20.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on MAIN. Royal Bank Of Canada reduced their target price 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. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Truist Financial decreased their price objective on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. 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. Finally, Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.33.

Main Street Capital Price Performance

Shares of NYSE:MAIN opened at $53.36 on Monday. The company has a 50 day moving average of $51.79 and a 200 day moving average of $55.48. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.96 billion, a P/E ratio of 11.23 and a beta of 0.72. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). The firm had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. As a group, sell-side analysts forecast that Main Street Capital Corporation will post 3.79 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s payout ratio is presently 66.95%.

Main Street Capital Company 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.