Main Street Capital Corporation $MAIN Shares Sold by Legacy Capital Wealth Partners LLC

by · The Markets Daily

Legacy Capital Wealth Partners LLC cut its holdings in shares of Main Street Capital Corporation (NYSE:MAIN – Free Report) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,250 shares of the financial services provider’s stock after selling 1,183 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Main Street Capital were worth $1,551,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc raised its holdings in Main Street Capital by 3.7% in the second quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider’s stock valued at $39,918,000 after acquiring an additional 24,248 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares during the last quarter. Invesco Ltd. raised its stake in shares of Main Street Capital by 282.5% in the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after purchasing an additional 393,101 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its position in shares of Main Street Capital by 1.5% during the second quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider’s stock worth $26,861,000 after purchasing an additional 6,853 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of Main Street Capital by 3.2% during the second quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider’s stock worth $20,438,000 after purchasing an additional 10,819 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAIN. Truist Financial cut their price objective on Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a report on Monday. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Zacks Research downgraded shares of Main Street Capital from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, B. Riley dropped their target price on shares of Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.60.

Read Our Latest Stock Analysis on MAIN

Main Street Capital Trading Up 1.3%

Shares of NYSE MAIN opened at $58.45 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 9.63 and a beta of 0.84. The stock’s 50 day simple moving average is $58.96 and its 200 day simple moving average is $60.83. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77.

Main Street Capital (NYSE:MAIN – Get Free Report) last issued its earnings results on Thursday, November 6th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.09). Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $151.23 million during the quarter, compared to analyst estimates of $140.53 million. Equities research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.26 per share. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Friday, March 6th. Main Street Capital’s payout ratio is presently 50.75%.

Main Street Capital Company Profile

(Free Report)

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.

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