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Sanders Morris Harris LLC Sells 9,922 Shares of Main Street Capital Co. (NYSE:MAIN)

Financial News Live ·  Sep 17, 2022 12:21

Sanders Morris Harris LLC decreased its stake in shares of Main Street Capital Co. (NYSE:MAIN – Get Rating) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,520 shares of the financial services provider's stock after selling 9,922 shares during the quarter. Main Street Capital comprises 2.1% of Sanders Morris Harris LLC's holdings, making the stock its 10th biggest position. Sanders Morris Harris LLC owned approximately 0.35% of Main Street Capital worth $9,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of Main Street Capital by 6.9% in the 1st quarter. Van ECK Associates Corp now owns 778,892 shares of the financial services provider's stock valued at $33,212,000 after acquiring an additional 50,377 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Main Street Capital by 0.7% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 199,321 shares of the financial services provider's stock valued at $8,499,000 after acquiring an additional 1,436 shares during the last quarter. Trinity Legacy Partners LLC boosted its holdings in shares of Main Street Capital by 9.5% in the 1st quarter. Trinity Legacy Partners LLC now owns 178,182 shares of the financial services provider's stock valued at $7,598,000 after acquiring an additional 15,446 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Main Street Capital by 3.1% in the 4th quarter. LPL Financial LLC now owns 177,133 shares of the financial services provider's stock valued at $7,946,000 after acquiring an additional 5,299 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in shares of Main Street Capital by 0.4% in the 2nd quarter. Confluence Investment Management LLC now owns 141,603 shares of the financial services provider's stock valued at $5,456,000 after acquiring an additional 516 shares during the last quarter. Institutional investors and hedge funds own 19.11% of the company's stock.

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Main Street Capital Price Performance

NYSE:MAIN traded down $0.04 during trading hours on Friday, reaching $39.72. 476,193 shares of the company were exchanged, compared to its average volume of 279,502. The stock's 50-day moving average is $42.29 and its 200-day moving average is $40.64. The firm has a market cap of $2.90 billion, a PE ratio of 10.82 and a beta of 1.28. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. Main Street Capital Co. has a twelve month low of $34.35 and a twelve month high of $47.13.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, September 27th. Investors of record on Tuesday, September 20th will be given a dividend of $0.10 per share. This is a boost from Main Street Capital's previous dividend of $0.08. The ex-dividend date of this dividend is Monday, September 19th. Main Street Capital's dividend payout ratio (DPR) is presently 70.30%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAIN. Raymond James downgraded shares of Main Street Capital from an "outperform" rating to a "market perform" rating in a report on Monday, August 8th. Hovde Group lowered their price target on shares of Main Street Capital to $37.00 in a report on Friday, May 20th. Finally, TheStreet raised shares of Main Street Capital from a "c+" rating to a "b-" rating in a report on Tuesday, July 19th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $42.80.

Main Street Capital Profile

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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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