BlackRock Inc. Makes New $20.94 Million Investment in Main Street Capital Corporation $MAIN

BlackRock Inc. purchased a new stake in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 403,623 shares of the financial services provider’s stock, valued at approximately $20,940,000.

Several other large investors have also recently modified their holdings of MAIN. Garner Asset Management Corp acquired a new position in shares of Main Street Capital during the fourth quarter worth $28,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of Main Street Capital in the second quarter worth $28,000. Smartleaf Asset Management LLC increased its holdings in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Sankala Group LLC bought a new position in Main Street Capital during the 4th quarter worth $29,000. Finally, Gilpin Wealth Management LLC bought a new position in Main Street Capital during the 4th quarter worth $31,000. Institutional investors own 20.31% of the company’s stock.

Analysts Set New Price Targets

MAIN has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Royal Bank Of Canada lowered their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Truist Financial increased their target price 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. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.83.

Main Street Capital Price Performance

MAIN stock opened at $57.78 on Thursday. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 11.65 and a beta of 0.72. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital Corporation has a 12-month low of $48.95 and a 12-month high of $67.34. The company’s fifty day simple moving average is $55.41 and its 200 day simple moving average is $54.49.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. On average, analysts expect that Main Street Capital Corporation will post 3.77 earnings per share for the current year.

Main Street Capital Announces Dividend

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

Insider Activity

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $59.05 per share, with a total value of $150,577.50. Following the completion of the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.83% of the stock is owned by corporate insiders.

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.