Cetera Investment Advisers Sells 5,538 Shares of Main Street Capital Corporation (NYSE:MAIN)

Cetera Investment Advisers lessened its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 10.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,554 shares of the financial services provider’s stock after selling 5,538 shares during the period. Cetera Investment Advisers owned 0.05% of Main Street Capital worth $2,690,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MAIN. Burgundy Asset Management Ltd. raised its position in shares of Main Street Capital by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider’s stock worth $67,578,000 after purchasing an additional 17,196 shares during the period. Adell Harriman & Carpenter Inc. raised its position in shares of Main Street Capital by 5.2% during the first quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider’s stock worth $25,319,000 after purchasing an additional 22,090 shares during the period. Muzinich & Co. Inc. raised its position in shares of Main Street Capital by 10.8% during the first quarter. Muzinich & Co. Inc. now owns 247,107 shares of the financial services provider’s stock worth $13,976,000 after purchasing an additional 24,130 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Main Street Capital by 10.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock worth $13,736,000 after purchasing an additional 22,340 shares during the period. Finally, Sanders Morris Harris LLC raised its position in shares of Main Street Capital by 0.7% during the first quarter. Sanders Morris Harris LLC now owns 207,274 shares of the financial services provider’s stock worth $11,723,000 after purchasing an additional 1,477 shares during the period. Institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAIN. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday. UBS Group restated a “neutral” rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Truist Financial reduced their target price on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 12th. B. Riley raised Main Street Capital to a “hold” rating in a report on Monday, June 16th. Finally, Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.60.

Main Street Capital Stock Performance

NYSE:MAIN 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 business has a fifty day simple moving average of $60.81 and a two-hundred day simple moving average of $58.25. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $66.39. The company has a market capitalization of $5.71 billion, a P/E ratio of 10.89 and a beta of 0.85.

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

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.255 per share. 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 dividend payout ratio (DPR) is currently 51.95%.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the firm’s stock in a transaction dated 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 approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.00% of the company’s stock.

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.