Dearborn Partners LLC Invests $1.40 Million in Main Street Capital Corporation $MAIN

Dearborn Partners LLC purchased a new position in Main Street Capital Corporation (NYSE:MAIN) during the second quarter, Holdings Channel reports. The firm purchased 27,018 shares of the financial services provider’s stock, valued at approximately $1,402,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAIN. Brighton Jones LLC bought a new stake in Main Street Capital during the fourth quarter worth about $304,000. NewEdge Advisors LLC increased its holdings in Main Street Capital by 5,416.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock valued at $94,000 after buying an additional 1,625 shares during the period. Guggenheim Capital LLC increased its holdings in 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 valued at $738,000 after buying an additional 570 shares during the period. First Trust Advisors LP raised its position in shares of Main Street Capital by 2.3% in the 2nd 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 in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Main Street Capital in the 2nd quarter valued at approximately $228,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insider Buying and Selling at Main Street Capital

In other news, CAO Ryan Mchugh bought 2,550 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer owned 22,647 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. Also, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.83% of the company’s stock.

Main Street Capital Price Performance

MAIN stock opened at $58.66 on Friday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 11.83 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. The company has a 50 day simple moving average of $54.77 and a 200 day simple moving average of $54.57. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.34.

Main Street Capital (NYSE:MAIN) last issued its 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. The firm had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. Research analysts anticipate 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. Investors of record on Tuesday, December 8th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend 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 64.11%.

Wall Street Analyst Weigh In

MAIN has been the topic of several analyst reports. Wells Fargo & Company increased 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 report on Monday, August 10th. Truist Financial boosted their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Royal Bank Of Canada cut their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average price target of $60.83.

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.