LPL Financial LLC Increases Stake in Main Street Capital Co. (NYSE:MAIN)

LPL Financial LLC increased its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 299,165 shares of the financial services provider's stock after purchasing an additional 4,740 shares during the period. LPL Financial LLC owned approximately 0.34% of Main Street Capital worth $17,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAIN. US Bancorp DE grew its holdings in shares of Main Street Capital by 8.4% in the fourth quarter. US Bancorp DE now owns 2,579 shares of the financial services provider's stock valued at $151,000 after purchasing an additional 200 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in Main Street Capital by 0.3% in the third quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider's stock valued at $3,190,000 after purchasing an additional 218 shares during the period. PFG Investments LLC increased its holdings in Main Street Capital by 1.6% during the 4th quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider's stock worth $799,000 after purchasing an additional 219 shares during the period. Harbour Investments Inc. boosted its stake in shares of Main Street Capital by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider's stock valued at $206,000 after buying an additional 228 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of Main Street Capital by 7.0% during the third quarter. Sunbelt Securities Inc. now owns 3,509 shares of the financial services provider's stock worth $176,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company's stock.

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Insider Activity

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction that occurred on 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. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David L. Magdol sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

Main Street Capital Stock Down 7.4 %

Shares of NYSE:MAIN traded down $4.16 during trading on Friday, hitting $51.77. 433,141 shares of the company were exchanged, compared to its average volume of 418,897. The firm's 50 day moving average price is $59.37 and its 200-day moving average price is $55.90. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $4.58 billion, a P/E ratio of 9.36 and a beta of 1.26.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

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

Analysts Set New Price Targets

Separately, Truist Financial lifted their price objective 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.

About Main Street Capital

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.