Denali Advisors LLC Trims Holdings in Main Street Capital Corporation $MAIN

Denali Advisors LLC lowered its holdings in shares of Main Street Capital Corporation (NYSE:MAIN) by 21.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,697 shares of the financial services provider’s stock after selling 32,502 shares during the period. Main Street Capital accounts for 0.9% of Denali Advisors LLC’s investment portfolio, making the stock its 25th largest holding. Denali Advisors LLC owned 0.13% of Main Street Capital worth $7,612,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Quest 10 Wealth Builders Inc. purchased a new position in shares of Main Street Capital during the third quarter worth about $25,000. City Holding Co. acquired a new stake in Main Street Capital during the 3rd quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of Main Street Capital by 109.6% in 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. Assetmark Inc. increased its holdings in shares of Main Street Capital by 203.0% in the third quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 339 shares during the period. Finally, Archer Investment Corp raised its stake in shares of Main Street Capital by 134.5% during the third quarter. Archer Investment Corp now owns 544 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 312 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Trading Down 2.3%

Shares of MAIN opened at $59.48 on Monday. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.33 billion, a P/E ratio of 9.86 and a beta of 0.80. The firm’s 50-day moving average is $61.81 and its two-hundred day moving average is $61.70.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JMP Securities set a $70.00 price objective on shares of Main Street Capital in a research report on Monday, December 8th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Citizens Jmp initiated coverage on shares of Main Street Capital in a research report on Monday, December 8th. They issued a “market outperform” rating and a $70.00 price objective for the company. B. Riley Financial dropped their target price on Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, Royal Bank Of Canada cut their target price on Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, December 9th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average price target of $62.75.

Main Street Capital Company 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.