Main Street Capital Corporation $MAIN Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its holdings in Main Street Capital Corporation (NYSE:MAIN) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,634 shares of the financial services provider’s stock after selling 28,351 shares during the period. Confluence Investment Management LLC owned about 0.11% of Main Street Capital worth $6,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MAIN. Smartleaf Asset Management LLC grew its position in shares of Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Quarry LP acquired a new position in shares of Main Street Capital during the 1st quarter worth about $48,000. First Horizon Advisors Inc. purchased a new position in Main Street Capital in the 2nd quarter valued at about $50,000. Wealth Preservation Advisors LLC acquired a new stake in Main Street Capital in the 1st quarter worth about $58,000. Finally, Financial Management Professionals Inc. increased its stake in Main Street Capital by 45.0% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,196 shares of the financial services provider’s stock worth $71,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Down 0.7%

MAIN opened at $58.96 on Wednesday. Main Street Capital Corporation has a 52 week low of $47.00 and a 52 week high of $67.77. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $58.58 and a 200-day simple moving average of $61.45. The firm has a market cap of $5.28 billion, a P/E ratio of 9.78 and a beta of 0.80.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.09). Main Street Capital had a return on equity of 12.39% and a net margin of 95.59%.The business had revenue of $151.23 million during the quarter, compared to analyst estimates of $140.53 million. On average, equities analysts expect that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be paid a $0.26 dividend. The ex-dividend date is Friday, March 6th. This represents a c) dividend on an annualized basis and a yield of 5.3%. Main Street Capital’s payout ratio is currently 50.75%.

Analyst Upgrades and Downgrades

MAIN has been the topic of several recent research reports. JMP Securities set a $70.00 target price on shares of Main Street Capital in a research note on Monday, December 8th. Truist Financial decreased their price target on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Citigroup started coverage on shares of Main Street Capital in a research note on Monday, December 8th. They set an “outperform” rating for the company. Royal Bank Of Canada decreased their target price on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 9th. Finally, Citizens Jmp assumed coverage on Main Street Capital in a report on Monday, December 8th. They set a “market outperform” rating and a $70.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.43.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.