Main Street Capital Co. (NYSE:MAIN) Shares Purchased by Wealthstar Advisors LLC

Wealthstar Advisors LLC increased its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,708 shares of the financial services provider’s stock after acquiring an additional 960 shares during the quarter. Wealthstar Advisors LLC’s holdings in Main Street Capital were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC increased its stake in Main Street Capital by 0.6% in the first quarter. Taylor Frigon Capital Management LLC now owns 40,320 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 232 shares during the period. Albion Financial Group UT boosted its holdings in shares of Main Street Capital by 1.0% in the first quarter. Albion Financial Group UT now owns 114,272 shares of the financial services provider’s stock valued at $5,406,000 after acquiring an additional 1,165 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Main Street Capital by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 189,762 shares of the financial services provider’s stock valued at $8,978,000 after acquiring an additional 4,564 shares in the last quarter. Naviter Wealth LLC purchased a new stake in shares of Main Street Capital in the first quarter valued at about $2,030,000. Finally, Financial Security Advisor Inc. boosted its holdings in shares of Main Street Capital by 10.6% in the first quarter. Financial Security Advisor Inc. now owns 10,736 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 1,028 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Price Performance

MAIN traded up $0.47 during midday trading on Thursday, reaching $51.87. 288,382 shares of the company’s stock were exchanged, compared to its average volume of 328,450. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $4.45 billion, a PE ratio of 9.47 and a beta of 1.29. The business’s 50-day moving average price is $49.44 and its 200 day moving average price is $46.80. Main Street Capital Co. has a 1-year low of $37.70 and a 1-year high of $52.02.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $131.61 million during the quarter, compared to analysts’ expectations of $128.00 million. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. During the same quarter in the previous year, the business posted $1.02 earnings per share. As a group, equities analysts anticipate that Main Street Capital Co. will post 4.08 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 24th were given a $0.30 dividend. This represents a dividend yield of 7.55%. The ex-dividend date was Friday, June 21st. Main Street Capital’s dividend payout ratio is presently 52.55%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. B. Riley boosted their price objective on shares of Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Royal Bank of Canada boosted their price objective on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, Truist Financial boosted their price objective on shares of Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.20.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.