Insider Selling: Main Street Capital Co. (NYSE:MAIN) Insider Sells 100,000 Shares of Stock

Main Street Capital Co. (NYSE:MAIN) insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Main Street Capital Trading Down 1.9 %

Shares of MAIN stock traded down $1.13 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 fifty day simple moving average is $59.82 and its 200 day simple moving average is $55.61. 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 quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The company had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. 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 disclosed a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a yield of 7.11%. This is an increase from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s payout ratio is presently 51.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Main Street Capital by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider’s stock valued at $3,454,000 after buying an additional 229 shares during the last quarter. Castle Rock Wealth Management LLC increased its position in shares of Main Street Capital by 13.2% in the fourth quarter. Castle Rock Wealth Management LLC now owns 9,511 shares of the financial services provider’s stock valued at $585,000 after acquiring an additional 1,106 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Main Street Capital during the fourth quarter valued at about $557,000. Jefferies Financial Group Inc. purchased a new stake in shares of Main Street Capital during the fourth quarter worth about $3,993,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Main Street Capital in the fourth quarter worth about $1,489,000. Institutional investors own 20.31% of the company’s stock.

Analyst Ratings Changes

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.

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.