Corient Private Wealth LLC Grows Stock Holdings in Main Street Capital Corporation $MAIN

Corient Private Wealth LLC raised its holdings in Main Street Capital Corporation (NYSE:MAIN) by 3,880.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 890,461 shares of the financial services provider’s stock after purchasing an additional 868,092 shares during the quarter. Corient Private Wealth LLC’s holdings in Main Street Capital were worth $53,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Freedom Financial Partners LLC raised its stake in shares of Main Street Capital by 3.3% during the 4th quarter. Freedom Financial Partners LLC now owns 5,356 shares of the financial services provider’s stock valued at $323,000 after buying an additional 170 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of Main Street Capital by 0.4% in the fourth quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 194 shares during the last quarter. SMH Capital Advisors Inc. grew its holdings in Main Street Capital by 1.1% during the fourth quarter. SMH Capital Advisors Inc. now owns 18,884 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 206 shares during the period. Lido Advisors LLC grew its holdings in Main Street Capital by 1.7% during the fourth quarter. Lido Advisors LLC now owns 12,520 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 209 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Main Street Capital by 5.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,127 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 212 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on MAIN shares. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Truist Financial cut their target price on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. Zacks Research cut shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp decreased their target price on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.14.

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $50.97 on Monday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.77. The business has a 50-day moving average price of $52.70 and a 200 day moving average price of $56.94. The firm has a market cap of $4.74 billion, a PE ratio of 10.73 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The business had revenue of $73.44 million during the quarter, compared to analyst estimates of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Sell-side analysts predict that Main Street Capital Corporation will post 3.78 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Main Street Capital’s payout ratio is 65.68%.

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.