Insider Selling: Main Street Capital Co. (NYSE:MAIN) CEO Sells $6,966,000.00 in 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 stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Main Street Capital Stock Down 1.4 %

Main Street Capital stock opened at $56.64 on Friday. The firm has a 50 day moving average price of $59.67 and a two-hundred day moving average price of $55.69. 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 Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 10.26 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). The firm had revenue of $140.44 million during the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Equities analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

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

Institutional Investors Weigh In On Main Street Capital

Several large investors have recently added to or reduced their stakes in the business. Wealthstar Advisors LLC bought a new position in shares of Main Street Capital during the 4th quarter worth approximately $1,326,000. Franklin Resources Inc. lifted its position in shares of Main Street Capital by 19.3% during the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after acquiring an additional 35,227 shares during the period. Segment Wealth Management LLC boosted its stake in Main Street Capital by 15.8% during the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock worth $2,951,000 after acquiring an additional 6,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Main Street Capital in the fourth quarter worth $957,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in Main Street Capital in the fourth quarter valued at $6,007,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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 report 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.