LPL Financial LLC Purchases 4,740 Shares of Main Street Capital Co. (NYSE:MAIN)

LPL Financial LLC grew its position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,165 shares of the financial services provider's stock after acquiring an additional 4,740 shares during the quarter. LPL Financial LLC owned about 0.34% of Main Street Capital worth $17,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of MAIN. Asset Planning Inc purchased a new stake in shares of Main Street Capital in the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital in the 3rd quarter worth $50,000. AdvisorNet Financial Inc raised its holdings in shares of Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 729 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Main Street Capital by 31.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 311 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Main Street Capital by 34.2% during the fourth quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider's stock worth $88,000 after purchasing an additional 381 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their target price on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a research report on Monday, March 3rd.

Main Street Capital Stock Performance

Shares of NYSE:MAIN traded down $4.38 during mid-day trading on Friday, reaching $51.55. The company had a trading volume of 1,408,096 shares, compared to its average volume of 422,548. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $59.18 and its 200-day moving average price is $55.91. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 9.34 and a beta of 1.26.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). The firm had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, equities research analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were issued a $0.30 dividend. This is a positive change from Main Street Capital's previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date was Thursday, March 20th. Main Street Capital's dividend payout ratio (DPR) is presently 51.37%.

Insider Activity

In related news, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now owns 377,182 shares of the company's stock, 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 is accessible through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now directly owns 402,371 shares of the company's stock, valued at approximately $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Main Street Capital Company 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.