Corient Private Wealth LLC Decreases Holdings in Main Street Capital Co. (NYSE:MAIN)

Corient Private Wealth LLC lowered its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,653 shares of the financial services provider’s stock after selling 704 shares during the period. Corient Private Wealth LLC’s holdings in Main Street Capital were worth $800,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in MAIN. Asset Planning Inc bought a new position in shares of Main Street Capital during the fourth quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in Main Street Capital in the third quarter valued at approximately $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Main Street Capital during the third quarter valued at approximately $50,000. AdvisorNet Financial Inc grew 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 worth $72,000 after purchasing an additional 729 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock valued at $77,000 after buying an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Transactions at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 owns 402,371 shares of the company’s stock, valued at $23,357,636.55. This trade represents a 22.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This 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.

Analyst Upgrades and Downgrades

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

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $57.46 on Friday. The business has a 50 day moving average of $59.73 and a 200 day moving average of $55.64. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a market cap of $5.09 billion, a PE ratio of 10.41 and a beta of 1.26. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

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

Main Street Capital Increases Dividend

The company 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 was Thursday, March 20th. Main Street Capital’s payout ratio is presently 51.37%.

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.