Kingsview Wealth Management LLC Takes Position in Main Street Capital Corporation $MAIN

Kingsview Wealth Management LLC purchased a new position in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,546 shares of the financial services provider’s stock, valued at approximately $495,000.

Other large investors also recently bought and sold shares of the company. Garner Asset Management Corp purchased a new stake in Main Street Capital in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC lifted 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 purchasing an additional 250 shares during the last quarter. Sankala Group LLC purchased a new position in shares of Main Street Capital during the fourth quarter valued at approximately $29,000. Gilpin Wealth Management LLC bought a new stake in shares of Main Street Capital in the 4th quarter worth approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in shares of Main Street Capital in the 2nd quarter worth approximately $28,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MAIN shares. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a report on Monday, August 10th. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Truist Financial lifted their price target on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $60.83.

Insider Activity

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

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $58.58 on Monday. The firm has a market cap of $5.48 billion, a P/E ratio of 11.81 and a beta of 0.71. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.34. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $54.92 and a 200 day moving average of $54.56.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The business had revenue of $327.56 million for the quarter, compared to the consensus estimate of $144.59 million. As a group, research analysts expect that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be given 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%.

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.