HighTower Advisors LLC Lowers Position in Main Street Capital Co. (NYSE:MAIN)

HighTower Advisors LLC reduced its stake in Main Street Capital Co. (NYSE:MAIN – Get Rating) by 7.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,799 shares of the financial services provider’s stock after selling 4,674 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of Main Street Capital worth $2,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MAIN. PNC Financial Services Group Inc. raised its position in Main Street Capital by 11.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock valued at $363,000 after buying an additional 904 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Main Street Capital in the 1st quarter valued at $274,000. SS&H Financial Advisors Inc. purchased a new stake in Main Street Capital in the 1st quarter valued at $1,079,000. Northern Trust Corp raised its position in Main Street Capital by 40.1% in the 1st quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider’s stock valued at $2,018,000 after buying an additional 13,542 shares during the last quarter. Finally, Invesco Ltd. raised its position in Main Street Capital by 6.9% in the 1st quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider’s stock valued at $1,861,000 after buying an additional 2,814 shares during the last quarter. 18.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAIN. TheStreet raised Main Street Capital from a “c+” rating to a “b-” rating in a research report on Monday, February 6th. B. Riley raised their target price on Main Street Capital from $45.00 to $46.00 in a research report on Monday, May 8th. Oppenheimer raised their target price on Main Street Capital from $39.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, February 27th. Truist Financial raised their target price on Main Street Capital from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Tuesday, February 28th. Finally, StockNews.com began coverage on Main Street Capital in a research report on Thursday, May 18th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $42.67.

Main Street Capital Stock Down 0.3 %

MAIN stock opened at $39.11 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 11.84 and a beta of 1.30. Main Street Capital Co. has a fifty-two week low of $31.66 and a fifty-two week high of $45.67. The stock has a fifty day moving average of $39.58 and a 200-day moving average of $38.95.

Main Street Capital (NYSE:MAIN – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $113.88 million during the quarter, compared to the consensus estimate of $107.58 million. Main Street Capital had a return on equity of 13.49% and a net margin of 61.28%. As a group, equities research analysts predict that Main Street Capital Co. will post 3.96 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a $0.23 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.76 annualized dividend and a yield of 7.06%. Main Street Capital’s dividend payout ratio is currently 81.57%.

Insiders Place Their Bets

In related news, Director John Earl Jackson bought 3,000 shares of the business’s stock in a transaction on Friday, March 31st. The stock was acquired at an average price of $39.20 per share, for a total transaction of $117,600.00. Following the purchase, the director now directly owns 60,517 shares in the company, valued at $2,372,266.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Main Street Capital news, Director John Earl Jackson purchased 3,000 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was purchased at an average price of $39.20 per share, for a total transaction of $117,600.00. Following the transaction, the director now owns 60,517 shares in the company, valued at approximately $2,372,266.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jason B. Beauvais sold 6,800 shares of Main Street Capital stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $39.41, for a total value of $267,988.00. Following the sale, the executive vice president now owns 160,037 shares of the company’s stock, valued at approximately $6,307,058.17. The disclosure for this sale can be found here. Insiders sold a total of 15,694 shares of company stock worth $619,006 in the last quarter. 4.00% of the stock is owned by company insiders.

Main Street Capital Company Profile

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Main Street Capital is a principal investment firm that provides long-term debt and equity capital to lower middle market companies. Main Street’s investments are primarily made to support management buyouts, recapitalizations, growth financings and acquisitions of companies that operate in diverse industry sectors and generally have annual revenues ranging from $10 million to $100 million.