Park Avenue Securities LLC Grows Holdings in Main Street Capital Corporation $MAIN

Park Avenue Securities LLC grew its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,470 shares of the financial services provider’s stock after buying an additional 1,284 shares during the quarter. Park Avenue Securities LLC’s holdings in Main Street Capital were worth $501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nations Financial Group Inc. IA ADV increased its position in Main Street Capital by 2.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider’s stock worth $538,000 after buying an additional 221 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Main Street Capital by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider’s stock worth $3,454,000 after buying an additional 229 shares during the period. Uncommon Cents Investing LLC increased its position in Main Street Capital by 1.4% in the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider’s stock worth $917,000 after buying an additional 231 shares during the period. Sigma Planning Corp increased its position in Main Street Capital by 0.5% in the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider’s stock worth $2,542,000 after buying an additional 236 shares during the period. Finally, US Bancorp DE increased its position in Main Street Capital by 9.4% in the first quarter. US Bancorp DE now owns 2,822 shares of the financial services provider’s stock worth $160,000 after buying an additional 243 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Trading Down 0.6%

Shares of MAIN stock opened at $63.37 on Tuesday. The stock has a 50-day simple moving average of $65.29 and a 200 day simple moving average of $59.65. Main Street Capital Corporation has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The stock has a market capitalization of $5.67 billion, a P/E ratio of 10.44 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.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. On average, sell-side analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $1.20 annualized dividend and a yield of 1.9%. Main Street Capital’s dividend payout ratio (DPR) is currently 50.41%.

Analyst Ratings Changes

MAIN has been the topic of several analyst reports. Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. UBS Group reaffirmed a “neutral” rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Truist Financial raised their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a report on Monday, August 11th. Finally, B. Riley raised 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insiders Place Their Bets

In related news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

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.