Mercer Global Advisors Inc. ADV Sells 56,225 Shares of Main Street Capital Co. (NYSE:MAIN)

Mercer Global Advisors Inc. ADV decreased its stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,383 shares of the financial services provider's stock after selling 56,225 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Main Street Capital were worth $901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Main Street Capital during the fourth quarter worth about $10,460,000. Invesco Ltd. grew its stake in shares of Main Street Capital by 470.4% during the 4th quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider's stock worth $8,152,000 after acquiring an additional 114,768 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $6,059,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Main Street Capital in the fourth quarter worth $6,007,000. Finally, Van ECK Associates Corp boosted its holdings in Main Street Capital by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock worth $75,469,000 after purchasing an additional 92,833 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $52.82 on Friday. The stock has a market cap of $4.68 billion, a P/E ratio of 9.57 and a beta of 0.86. The company has a fifty day moving average price of $54.72 and a two-hundred day moving average price of $56.29. Main Street Capital Co. has a one year low of $45.00 and a one year 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.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The business had revenue of $137.05 million during the quarter, compared to analysts' expectations of $137.50 million. As a group, equities analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. This is an increase from Main Street Capital's previous monthly dividend of $0.25. The ex-dividend date is Monday, September 8th. This represents a $3.06 annualized dividend and a yield of 5.79%. Main Street Capital's dividend payout ratio (DPR) is currently 51.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MAIN shares. UBS Group cut their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Truist Financial upped their target price on Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $52.60.

Read Our Latest Analysis on Main Street Capital

Insider Buying and Selling at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, 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 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 Company Profile

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.

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