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 Main Street Capital stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Main Street Capital Stock Down 1.9 %

MAIN traded down $1.13 during trading on Wednesday, hitting $57.92. 697,087 shares of the company’s stock traded hands, compared to its average volume of 413,495. 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 company’s 50 day simple moving average is $59.82 and its two-hundred day simple moving average is $55.61. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). The business had revenue of $140.44 million during 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%. Analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

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

Institutional Investors Weigh In On Main Street Capital

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

Wall Street Analyst Weigh In

Separately, Truist Financial lifted their price objective on Main Street Capital from $52.00 to $62.00 and gave the company 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.