Sigma Planning Corp Sells 8,491 Shares of Main Street Capital Corporation $MAIN

Sigma Planning Corp cut its holdings in Main Street Capital Corporation (NYSE:MAIN) by 23.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,001 shares of the financial services provider’s stock after selling 8,491 shares during the period. Sigma Planning Corp’s holdings in Main Street Capital were worth $1,401,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Main Street Capital by 6.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after acquiring an additional 162,580 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Main Street Capital by 3,880.8% during the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock valued at $53,774,000 after purchasing an additional 868,092 shares during the period. UBS Group AG raised its holdings in shares of Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after purchasing an additional 534,374 shares during the period. Legal & General Group Plc bought a new position in Main Street Capital in the second quarter worth approximately $43,323,000. Finally, Adell Harriman & Carpenter Inc. lifted its holdings in shares of Main Street Capital by 1.3% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 484,584 shares of the financial services provider’s stock worth $25,664,000 after purchasing an additional 6,149 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Main Street Capital

In other news, CAO Ryan Mchugh bought 2,550 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $59.05 per share, with a total value of $150,577.50. Following the completion of the transaction, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at $1,337,305.35. This represents a 12.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the sale, the executive vice president owned 196,185 shares in the company, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MAIN shares. Wells Fargo & Company raised their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Truist Financial boosted their target price on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $60.83.

Main Street Capital Price Performance

MAIN opened at $58.91 on Tuesday. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.34. The firm has a 50-day moving average of $55.09 and a 200 day moving average of $54.53. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market cap of $5.51 billion, a P/E ratio of 11.88 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. On average, research analysts expect that Main Street Capital Corporation will post 3.77 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a $0.265 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s payout ratio is 64.11%.

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.