Main Street Capital Corporation (NYSE:MAIN) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC raised its position in Main Street Capital Corporation (NYSE:MAIN) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,807 shares of the financial services provider’s stock after purchasing an additional 244 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Main Street Capital were worth $215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MAIN. Kapitalo Investimentos Ltda purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $45,000. Colonial Trust Advisors purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $46,000. NBC Securities Inc. purchased a new stake in shares of Main Street Capital in the 1st quarter valued at approximately $54,000. GAMMA Investing LLC raised its stake in shares of Main Street Capital by 5,557.9% in the 1st quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,056 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in shares of Main Street Capital by 31.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 311 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MAIN shares. UBS Group reduced their price target on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Truist Financial reduced their price target on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. B. Riley raised shares of Main Street Capital to a “hold” rating in a research note on Monday, June 16th. Finally, Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.80.

Insider Buying and Selling

In other news, insider David L. Magdol sold 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Main Street Capital Price Performance

Shares of MAIN opened at $58.10 on Friday. Main Street Capital Corporation has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The firm’s 50 day moving average price is $55.14 and its 200 day moving average price is $57.03. The company has a market cap of $5.17 billion, a P/E ratio of 9.86 and a beta of 0.82. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The firm had revenue of $137.05 million for the quarter, compared to the consensus estimate of $137.50 million. On average, research analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 23rd will be paid a dividend of $0.30 per share. This is an increase from Main Street Capital’s previous dividend of $0.25. This represents a yield of 7.26%. The ex-dividend date is Friday, June 20th. Main Street Capital’s dividend payout ratio is presently 50.93%.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.