Comerica Bank Sells 1,650 Shares of Main Street Capital Corporation $MAIN

Comerica Bank trimmed its stake in Main Street Capital Corporation (NYSE:MAIN) by 34.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,080 shares of the financial services provider’s stock after selling 1,650 shares during the quarter. Comerica Bank’s holdings in Main Street Capital were worth $174,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC purchased a new position in shares of Main Street Capital in the 1st quarter worth about $39,000. Spire Wealth Management bought a new stake in Main Street Capital during the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital in the first quarter worth about $41,000. NBC Securities Inc. bought a new position in shares of Main Street Capital in the first quarter worth approximately $54,000. Finally, GAMMA Investing LLC lifted its stake in shares of Main Street Capital by 5,557.9% in the first quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock worth $61,000 after buying an additional 1,056 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Trading Up 1.0%

Main Street Capital stock opened at $66.62 on Thursday. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The company has a market cap of $5.96 billion, a P/E ratio of 10.98 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $64.71 and a two-hundred day simple moving average of $59.03.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be given a $0.255 dividend. The ex-dividend date is Friday, November 7th. This represents a c) annualized dividend and a yield of 4.6%. Main Street Capital’s dividend payout ratio (DPR) is presently 50.41%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MAIN. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Royal Bank Of Canada increased their target price on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Truist Financial boosted their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. B. Riley upped their price target on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.20.

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 on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the transaction, the director owned 82,383 shares in the company, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Main Street Capital 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.