Main Street Capital Corporation $MAIN Stake Lessened by Childress Capital Advisors LLC

Childress Capital Advisors LLC decreased its stake in Main Street Capital Corporation (NYSE:MAIN) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,587 shares of the financial services provider’s stock after selling 41,146 shares during the period. Main Street Capital accounts for 1.8% of Childress Capital Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Childress Capital Advisors LLC’s holdings in Main Street Capital were worth $11,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MAIN. BlackRock Inc. purchased a new stake in Main Street Capital in the second quarter valued at $20,940,000. Bank of America Corp DE acquired a new position in Main Street Capital in the second quarter valued at $6,094,000. Bank of New York Mellon Corp acquired a new position in Main Street Capital in the second quarter valued at $2,382,000. The Manufacturers Life Insurance Company acquired a new position in Main Street Capital in the second quarter valued at $1,501,000. Finally, Entropy Technologies LP purchased a new position in shares of Main Street Capital during the first quarter worth about $1,964,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $55.85 on Friday. The firm’s fifty day simple moving average is $55.77 and its 200-day simple moving average is $55.59. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 11.26 and a beta of 0.74. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $65.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. As a group, equities analysts forecast that Main Street Capital Corporation will post 3.75 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a $0.2650 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $3.18 dividend on an annualized basis and a yield of 5.7%. Main Street Capital’s payout ratio is currently 64.11%.

Insider Buying and Selling

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction dated 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 acquisition, the chief accounting officer owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.83% of the company’s stock.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of research analyst reports. UBS Group cut their target price on Main Street Capital from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Truist Financial upped their target price on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company upgraded Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $55.00 to $60.00 in a research note on Tuesday, September 29th. Finally, Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $61.00.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.