Vise Technologies Inc. Invests $608,000 in Main Street Capital Corporation $MAIN

Vise Technologies Inc. purchased a new stake in shares of Main Street Capital Corporation (NYSE:MAIN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,716 shares of the financial services provider’s stock, valued at approximately $608,000.

Several other hedge funds have also made changes to their positions in the company. Adell Harriman & Carpenter Inc. raised its position in Main Street Capital by 5.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock valued at $28,893,000 after buying an additional 23,942 shares during the period. Entropy Technologies LP purchased a new position in Main Street Capital during the 1st quarter valued at about $1,964,000. Brighton Jones LLC purchased a new position in Main Street Capital during the 4th quarter valued at about $304,000. Legal & General Group Plc increased its holdings in shares of Main Street Capital by 15.2% in the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock valued at $43,479,000 after purchasing an additional 95,177 shares during the period. Finally, LGT Fund Management Co Ltd. acquired a new position in shares of Main Street Capital in the 1st quarter valued at about $1,470,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

MAIN has been the subject of a number of research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Truist Financial boosted their price target on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 10th. Wells Fargo & Company upped their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.83.

Main Street Capital Trading Up 1.1%

NYSE:MAIN opened at $58.92 on Tuesday. The company’s 50 day moving average is $54.32 and its 200-day moving average is $54.62. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $67.34. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 11.88 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Equities analysts anticipate that Main Street Capital Corporation will post 3.77 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders 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 dividend yield of 5.4%. Main Street Capital’s dividend payout ratio (DPR) is presently 64.11%.

Insider Buying and Selling at Main Street Capital

In related news, CAO Ryan Mchugh bought 2,550 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the purchase, the chief accounting officer directly 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Company 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.