Vestor Capital LLC Increases Stock Holdings in Main Street Capital Corporation $MAIN

Vestor Capital LLC increased its stake in shares of Main Street Capital Corporation (NYSE:MAIN) by 3,675.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 48,400 shares of the financial services provider’s stock after acquiring an additional 47,118 shares during the quarter. Vestor Capital LLC’s holdings in Main Street Capital were worth $2,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Garner Asset Management Corp purchased a new stake in Main Street Capital during the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC increased its stake in shares of Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. Sankala Group LLC bought a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $29,000. Gilpin Wealth Management LLC bought a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $31,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Main Street Capital by 181.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 565 shares of the financial services provider’s stock valued at $34,000 after buying an additional 364 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 6,830 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.83% of the company’s stock.

Main Street Capital Price Performance

MAIN stock opened at $54.45 on Friday. The firm has a 50 day moving average of $52.07 and a 200-day moving average of $55.28. The firm has a market capitalization of $5.06 billion, a P/E ratio of 11.46 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. 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 posted its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The firm had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. As a group, sell-side analysts predict that Main Street Capital Corporation will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

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

Wall Street Analyst Weigh In

MAIN has been the subject of several analyst 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. Citizens Jmp dropped their target price on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Royal Bank Of Canada cut their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Weiss Ratings raised Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Truist Financial reduced their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.33.

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.