Main Street Capital Corporation $MAIN Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC lowered its stake in shares of Main Street Capital Corporation (NYSE:MAIN) by 42.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 30,698 shares of the financial services provider’s stock after selling 23,060 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Main Street Capital were worth $1,593,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MAIN. Adell Harriman & Carpenter Inc. boosted its position in shares of Main Street Capital by 5.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock worth $28,893,000 after buying an additional 23,942 shares during the period. Entropy Technologies LP purchased a new stake in shares of Main Street Capital in the 1st quarter valued at $1,964,000. Brighton Jones LLC acquired a new position in Main Street Capital during the 4th quarter worth about $304,000. Legal & General Group Plc grew its position in Main Street Capital by 15.2% in the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock valued at $43,479,000 after acquiring an additional 95,177 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Main Street Capital by 517.9% during the first quarter. NewEdge Advisors LLC now owns 39,049 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 32,729 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $57.92 on Wednesday. The business has a 50-day simple moving average of $55.25 and a 200-day simple moving average of $54.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. Main Street Capital Corporation has a one year low of $48.95 and a one year high of $67.34. The company has a market cap of $5.42 billion, a PE ratio of 11.68 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The firm had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. On average, equities research analysts forecast that Main Street Capital Corporation will post 3.77 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a dividend of $0.265 per share. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s payout ratio is 64.11%.

Insider Buying and Selling at Main Street Capital

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MAIN shares. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada reduced their target price 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. Truist Financial raised their price target on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Citigroup restated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Finally, Wells Fargo & Company upped their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average price target of $60.83.

Main Street Capital Company 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.