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 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 transaction, the insider now directly owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Main Street Capital Stock Performance

Shares of NYSE MAIN opened at $56.64 on Friday. Main Street Capital Co. has a one year low of $45.00 and a one year 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 firm has a market cap of $5.02 billion, a price-to-earnings ratio of 10.26 and a beta of 1.26. The stock’s fifty day moving average price is $59.67 and its two-hundred day moving average price is $55.69.

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 forecast that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, March 27th. Investors of record on Friday, March 21st were 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 was Thursday, March 20th. Main Street Capital’s payout ratio is 51.37%.

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 bought a new stake in shares of Main Street Capital during the 4th quarter valued at $29,000. Truvestments Capital LLC bought a new stake in Main Street Capital during the third quarter worth about $39,000. Kapitalo Investimentos Ltda acquired a new stake in Main Street Capital during the fourth quarter worth about $45,000. Colonial Trust Advisors bought a new position in Main Street Capital in the 4th quarter valued at about $46,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Main Street Capital in the 3rd quarter valued at approximately $50,000. Institutional investors own 20.31% of the company’s stock.

Analysts Set New Price Targets

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 note on Monday, March 3rd.

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.