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 company’s stock in a transaction that occurred 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 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 filing with the SEC, which is available through this link.

Main Street Capital Stock Down 1.4 %

Shares of NYSE MAIN opened at $56.64 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.02 billion, a PE ratio of 10.26 and a beta of 1.26. The firm’s 50-day moving average is $59.67 and its 200-day moving average is $55.69. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32.

Main Street Capital (NYSE:MAIN) last released its 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 analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Equities analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were paid a $0.30 dividend. This is a positive change from Main Street Capital’s previous dividend of $0.25. The ex-dividend date was Thursday, March 20th. This represents a yield of 7.11%. Main Street Capital’s dividend payout ratio is presently 51.37%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Main Street Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Planning Inc acquired a new position in Main Street Capital during the fourth quarter worth $29,000. Truvestments Capital LLC acquired a new position in shares of Main Street Capital during the 3rd quarter worth about $39,000. Kapitalo Investimentos Ltda acquired a new position in shares of Main Street Capital during the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new stake in shares of Main Street Capital in the 4th quarter valued at about $46,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Main Street Capital during the third quarter worth about $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.