Insider Selling: Main Street Capital Co. (NYSE:MAIN) CEO Sells 120,000 Shares of Stock

Main Street Capital Co. (NYSE:MAIN) CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. The trade was a 22.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Main Street Capital Stock Down 0.8 %

Shares of NYSE:MAIN opened at $57.46 on Friday. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a market capitalization of $5.09 billion, a PE ratio of 10.41 and a beta of 1.26. The business has a fifty day moving average price of $59.73 and a two-hundred day moving average price of $55.64. 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) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) 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 analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. 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. Investors of record on Friday, March 21st were paid a $0.30 dividend. This is an increase from Main Street Capital’s previous dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 20th. This represents a yield of 7.11%. Main Street Capital’s dividend payout ratio is presently 51.37%.

Wall Street Analyst Weigh In

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

Institutional Trading of Main Street Capital

A number of large investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Main Street Capital during the 4th quarter worth $10,460,000. Benjamin Edwards Inc. boosted its position in Main Street Capital by 971.3% during the third quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock worth $7,078,000 after purchasing an additional 127,988 shares during the period. Invesco Ltd. increased its stake in shares of Main Street Capital by 470.4% in the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock worth $8,152,000 after purchasing an additional 114,768 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $6,059,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Main Street Capital during the 4th quarter valued at approximately $6,007,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

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.