10,214 Shares in Main Street Capital Corporation (NYSE:MAIN) Bought by Mackenzie Financial Corp

Mackenzie Financial Corp bought a new stake in Main Street Capital Corporation (NYSE:MAIN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,214 shares of the financial services provider’s stock, valued at approximately $578,000.

Several other hedge funds have also recently added to or reduced their stakes in MAIN. Brighton Jones LLC acquired a new position in shares of Main Street Capital during the 4th quarter worth about $304,000. JPMorgan Chase & Co. grew its holdings in Main Street Capital by 37.1% during the fourth quarter. JPMorgan Chase & Co. now owns 139,189 shares of the financial services provider’s stock valued at $8,154,000 after purchasing an additional 37,640 shares during the period. Wedbush Securities Inc. increased its stake in Main Street Capital by 6.2% in the fourth quarter. Wedbush Securities Inc. now owns 4,591 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 266 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Main Street Capital by 11.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 120,211 shares of the financial services provider’s stock worth $7,042,000 after purchasing an additional 12,726 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Main Street Capital in the fourth quarter worth $258,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $64.17 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 10.89 and a beta of 0.85. The stock’s 50-day moving average is $60.81 and its 200-day moving average is $58.25. Main Street Capital Corporation has a one year low of $47.00 and a one year high of $66.39.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (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 for the quarter, compared to analyst estimates of $137.50 million. Equities analysts predict that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.255 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital’s payout ratio is currently 51.95%.

Insider Activity at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAIN. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. B. Riley raised Main Street Capital to a “hold” rating in a research note on Monday, June 16th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday. Truist Financial cut their price objective on 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, UBS Group reissued a “neutral” rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and a consensus target price of $53.60.

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.