Vertex Planning Partners LLC Buys 3,383 Shares of Main Street Capital Co. (NYSE:MAIN)

Vertex Planning Partners LLC lifted its stake in Main Street Capital Co. (NYSE:MAIN) by 65.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,583 shares of the financial services provider’s stock after purchasing an additional 3,383 shares during the period. Vertex Planning Partners LLC’s holdings in Main Street Capital were worth $503,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Main Street Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock valued at $75,469,000 after acquiring an additional 92,833 shares during the period. Adell Harriman & Carpenter Inc. lifted its holdings in Main Street Capital by 1.5% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider’s stock worth $24,929,000 after acquiring an additional 6,297 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Main Street Capital by 1.6% in the fourth quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock worth $17,525,000 after acquiring an additional 4,740 shares in the last quarter. Paradiem LLC grew its position in shares of Main Street Capital by 0.3% in the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock valued at $16,437,000 after purchasing an additional 732 shares during the period. Finally, Muzinich & Co. Inc. raised its holdings in Main Street Capital by 5.0% during the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider’s stock worth $13,062,000 after buying an additional 10,593 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Insiders Place Their Bets

In related news, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at approximately $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. Company insiders own 4.00% of the company’s stock.

Main Street Capital Stock Down 0.8 %

Shares of MAIN opened at $57.46 on Friday. The stock has a market capitalization of $5.09 billion, a PE ratio of 10.41 and a beta of 1.26. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $59.73 and its 200-day moving average is $55.64. Main Street Capital Co. has a 12 month low of $45.00 and a 12 month high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The company had revenue of $140.44 million for 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%. Equities research analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, March 20th. This represents a yield of 7.11%. This is a boost from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s dividend payout ratio is 51.37%.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price target on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd.

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.