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 firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Main Street Capital Stock Down 1.9 %

Shares of NYSE MAIN traded down $1.13 during mid-day trading on Wednesday, hitting $57.92. 697,087 shares of the stock traded hands, compared to its average volume of 413,495. The stock has a fifty day moving average price of $59.82 and a 200-day moving average price of $55.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32.

Main Street Capital (NYSE:MAIN) last issued 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). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Research analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

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

Analyst Ratings Changes

Separately, Truist Financial raised their target price 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 Investors Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its position in 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 in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Main Street Capital by 1.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider’s stock valued at $67,578,000 after buying an additional 17,196 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in Main Street Capital by 1.5% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider’s stock worth $24,929,000 after buying an additional 6,297 shares in the last quarter. LPL Financial LLC raised its position in Main Street Capital by 1.6% in the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock worth $17,525,000 after buying an additional 4,740 shares during the last quarter. Finally, Paradiem LLC lifted its stake in Main Street Capital by 0.3% during the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock valued at $16,437,000 after acquiring an additional 732 shares during the period. Institutional investors own 20.31% of the company’s stock.

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.