Kingsview Wealth Management LLC Invests $495,000 in Main Street Capital Corporation $MAIN

Kingsview Wealth Management LLC acquired a new position in Main Street Capital Corporation (NYSE:MAIN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,546 shares of the financial services provider’s stock, valued at approximately $495,000.

A number of other hedge funds also recently bought and sold shares of the company. Garner Asset Management Corp purchased a new position in Main Street Capital in the fourth quarter worth about $28,000. MassMutual Private Wealth & Trust FSB bought a new stake in shares of Main Street Capital during the 2nd quarter valued at about $28,000. Smartleaf Asset Management LLC increased its position in shares of Main Street Capital by 109.6% during the 2nd 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 last quarter. Sankala Group LLC purchased a new stake in shares of Main Street Capital during the 4th quarter valued at about $29,000. Finally, Gilpin Wealth Management LLC bought a new position in shares of Main Street Capital in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Transactions at Main Street Capital

In other news, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the transaction, the executive vice president directly owned 196,185 shares in the company, valued at $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Mchugh acquired 2,550 shares of the stock in a transaction dated 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 transaction, the chief accounting officer directly 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 disclosure for this purchase is available in the SEC filing. 3.83% of the stock is owned by company insiders.

Main Street Capital Stock Performance

MAIN opened at $58.58 on Monday. The company has a 50 day simple moving average of $54.92 and a two-hundred day simple moving average of $54.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $5.48 billion, a P/E ratio of 11.81 and a beta of 0.71. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.34.

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, 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 the consensus estimate of $144.59 million. Equities analysts forecast that Main Street Capital Corporation will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on MAIN shares. Royal Bank Of Canada cut their target price on shares of 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. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Truist Financial boosted their price objective 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. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.83.

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.