Entropy Technologies LP Purchases New Position in Main Street Capital Corporation $MAIN

Entropy Technologies LP purchased a new stake in shares of Main Street Capital Corporation (NYSE:MAIN) in the first quarter, Holdings Channel.com reports. The firm purchased 37,089 shares of the financial services provider’s stock, valued at approximately $1,964,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAIN. Corient Private Wealth LLC boosted its holdings in Main Street Capital by 3,880.8% during the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after acquiring an additional 868,092 shares during the last quarter. UBS Group AG grew its position in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after purchasing an additional 534,374 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Main Street Capital by 637.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock worth $21,547,000 after purchasing an additional 308,404 shares in the last quarter. Childress Capital Advisors LLC increased its stake in Main Street Capital by 165.2% in the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock valued at $17,739,000 after buying an additional 182,973 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Main Street Capital by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock valued at $165,135,000 after buying an additional 162,580 shares during the last quarter. 20.31% of the stock is owned by institutional investors.

Main Street Capital Stock Down 0.2%

MAIN stock opened at $53.36 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 11.23 and a beta of 0.72. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.77. The stock has a fifty day moving average of $51.79 and a 200-day moving average of $55.48.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.11). The business had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. As a group, equities research analysts predict that Main Street Capital Corporation will post 3.79 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 6.0%. Main Street Capital’s payout ratio is presently 66.95%.

Insider Activity

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of research analyst reports. Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Truist Financial reduced their price objective on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Wells Fargo & Company started coverage on Main Street Capital in a research report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 target price for the company. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Three 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, the company presently has a consensus rating of “Hold” and an average price target of $59.33.

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.