Entropy Technologies LP Acquires Shares of 37,089 Main Street Capital Corporation $MAIN

Entropy Technologies LP purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 37,089 shares of the financial services provider’s stock, valued at approximately $1,964,000.

A number of other large investors have also added to or reduced their stakes in the stock. Lido Advisors LLC increased its position in shares of Main Street Capital by 134.7% in the first quarter. Lido Advisors LLC now owns 29,380 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 16,860 shares during the period. State of Wyoming bought a new position in Main Street Capital in the 1st quarter valued at about $65,000. Signature Equity Partners LLC increased its holdings in Main Street Capital by 83.4% in the 1st quarter. Signature Equity Partners LLC now owns 17,463 shares of the financial services provider’s stock valued at $925,000 after buying an additional 7,939 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Main Street Capital in the 1st quarter valued at approximately $118,000. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Main Street Capital by 15.5% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 9,700 shares of the financial services provider’s stock valued at $541,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Analysts Set New Price Targets

MAIN has been the topic of a number of recent analyst reports. Truist Financial decreased their price objective on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company began coverage on Main Street Capital in a report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 target price on the stock. Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Finally, Weiss Ratings cut Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.33.

Main Street Capital Trading Down 0.2%

Shares of MAIN stock opened at $53.36 on Monday. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.77. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 11.23 and a beta of 0.72. The stock has a 50-day moving average of $51.79 and a 200-day moving average of $55.48.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The firm had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. On average, equities research analysts forecast that Main Street Capital Corporation will post 3.79 earnings per share for the current year.

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be paid a $0.265 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Main Street Capital’s payout ratio is 66.95%.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 6,830 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the transaction, the executive vice president owned 196,185 shares in the company, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.83% of the company’s stock.

Main Street Capital Profile

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.