Farther Finance Advisors LLC Sells 1,496 Shares of Main Street Capital Corporation $MAIN

Farther Finance Advisors LLC lowered its stake in shares of Main Street Capital Corporation (NYSE:MAIN) by 49.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,506 shares of the financial services provider’s stock after selling 1,496 shares during the quarter. Farther Finance Advisors LLC’s holdings in Main Street Capital were worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in MAIN. Brighton Jones LLC bought a new stake in Main Street Capital during the fourth quarter valued at about $304,000. GAMMA Investing LLC raised its stake in 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 valued at $61,000 after buying an additional 1,056 shares during the last quarter. NBC Securities Inc. purchased a new stake in Main Street Capital in the first quarter valued at about $54,000. Merit Financial Group LLC purchased a new stake in Main Street Capital in the first quarter valued at about $212,000. Finally, Park Avenue Securities LLC raised its stake in Main Street Capital by 89.6% in the first quarter. Park Avenue Securities LLC now owns 7,186 shares of the financial services provider’s stock valued at $406,000 after buying an additional 3,396 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Down 1.5%

Shares of MAIN stock opened at $62.98 on Friday. The stock has a 50 day moving average of $65.14 and a 200 day moving average of $59.80. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly 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. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, sell-side analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

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

Insiders Place Their Bets

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on 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 directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on MAIN. UBS Group reiterated 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a research note on Saturday, September 27th. Royal Bank Of Canada increased their price target 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 increased their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Finally, Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.20.

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.