Cerity Partners LLC Decreases Stock Holdings in Main Street Capital Corporation (NYSE:MAIN)

Cerity Partners LLC decreased its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 19.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 46,684 shares of the financial services provider’s stock after selling 11,600 shares during the period. Cerity Partners LLC owned 0.05% of Main Street Capital worth $2,640,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MAIN. Spire Wealth Management acquired a new stake in shares of Main Street Capital in the first quarter worth $40,000. Kapitalo Investimentos Ltda bought a new position in shares of Main Street Capital in the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new position in shares of Main Street Capital in the 4th quarter worth about $46,000. NBC Securities Inc. bought a new stake in Main Street Capital in the 1st quarter valued at about $54,000. Finally, GAMMA Investing LLC lifted its position in Main Street Capital by 5,557.9% in the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 1,056 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Transactions at Main Street Capital

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president directly owned 181,526 shares of the company’s stock, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.00% of the company’s stock.

Main Street Capital Price Performance

NYSE:MAIN opened at $64.45 on Friday. The firm has a fifty day simple moving average of $58.38 and a 200 day simple moving average of $57.73. Main Street Capital Corporation has a 1-year low of $45.00 and a 1-year high of $65.45. The stock has a market capitalization of $5.74 billion, a PE ratio of 10.94 and a beta of 0.82. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.02% and a net margin of 94.61%. The business had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. On average, research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, July 15th. Investors of record on Wednesday, July 9th were paid a $0.255 dividend. This represents a dividend yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital’s dividend payout ratio is currently 51.95%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MAIN shares. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Oppenheimer reiterated a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. UBS Group reissued a “neutral” rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday. Truist Financial lowered their target price on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. Finally, B. Riley raised shares of Main Street Capital to a “hold” rating in a report on Monday, June 16th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.60.

Main Street Capital Company Profile

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.