Main Street Capital Co. (NYSE:MAIN) Insider Sells $5,805,000.00 in Stock

Main Street Capital Co. (NYSE:MAIN) insider David L. Magdol sold 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Main Street Capital Stock Down 1.9 %

MAIN stock opened at $57.92 on Thursday. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week 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. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. The business’s fifty day moving average price is $59.79 and its two-hundred day moving average price is $55.63.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The business 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%. On average, equities analysts anticipate that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 21st will be paid a $0.30 dividend. This is a boost from Main Street Capital’s previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date of this dividend is Thursday, March 20th. Main Street Capital’s payout ratio is 51.37%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new stake in shares of Main Street Capital during the 4th quarter worth $29,000. Truvestments Capital LLC acquired a new stake in Main Street Capital during the third quarter worth about $39,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital in the 4th quarter valued at about $45,000. Colonial Trust Advisors acquired a new position in shares of Main Street Capital in the 4th quarter valued at approximately $46,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital during the 3rd quarter worth approximately $50,000. Institutional investors own 20.31% 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.