Sound Income Strategies LLC Has $21.42 Million Stock Position in Main Street Capital Corporation $MAIN

Sound Income Strategies LLC cut its stake in shares of Main Street Capital Corporation (NYSE:MAIN) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 336,832 shares of the financial services provider’s stock after selling 8,995 shares during the period. Main Street Capital accounts for about 1.2% of Sound Income Strategies LLC’s investment portfolio, making the stock its 20th biggest holding. Sound Income Strategies LLC owned 0.38% of Main Street Capital worth $21,419,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of Main Street Capital by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider’s stock valued at $39,918,000 after buying an additional 24,248 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital by 1.5% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider’s stock worth $26,861,000 after purchasing an additional 6,853 shares during the last quarter. Muzinich & Co. Inc. raised its holdings in shares of Main Street Capital by 28.2% in the 2nd quarter. Muzinich & Co. Inc. now owns 316,808 shares of the financial services provider’s stock valued at $18,723,000 after purchasing an additional 69,701 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Main Street Capital by 18.1% in the 2nd quarter. Franklin Resources Inc. now owns 306,645 shares of the financial services provider’s stock valued at $18,123,000 after purchasing an additional 47,000 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Trading Up 0.3%

Shares of NYSE:MAIN opened at $60.46 on Friday. The business’s 50 day simple moving average is $58.51 and its 200 day simple moving average is $61.39. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market capitalization of $5.42 billion, a P/E ratio of 10.03 and a beta of 0.80.

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

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, March 6th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 5.2%. Main Street Capital’s dividend payout ratio (DPR) is currently 50.75%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAIN. Citizens Jmp initiated coverage on Main Street Capital in a research note on Monday, December 8th. They issued a “market outperform” rating and a $70.00 price objective on the stock. Citigroup initiated coverage on Main Street Capital in a report on Monday, December 8th. They set an “outperform” rating on the stock. Royal Bank Of Canada dropped their price target on 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. B. Riley decreased their price objective on shares of Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, 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. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.