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 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 value of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Main Street Capital Stock Performance

Shares of Main Street Capital stock opened at $56.64 on Friday. The business’s fifty day simple moving average is $59.67 and its 200 day simple moving average is $55.69. 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 Co. has a 12 month low of $45.00 and a 12 month high of $63.32. The firm has a market capitalization of $5.02 billion, a P/E ratio of 10.26 and a beta of 1.26.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. As a group, analysts anticipate 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. Stockholders of record on Friday, March 21st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a dividend yield of 7.11%. This is a positive change from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) is presently 51.37%.

Analyst Upgrades and Downgrades

Separately, Truist Financial boosted their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd.

Hedge Funds Weigh In On Main Street Capital

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Main Street Capital in the fourth quarter worth $10,460,000. Benjamin Edwards Inc. increased its holdings in Main Street Capital by 971.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock worth $7,078,000 after acquiring an additional 127,988 shares during the last quarter. Invesco Ltd. increased its holdings in Main Street Capital by 470.4% in the 4th quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock worth $8,152,000 after acquiring an additional 114,768 shares during the last quarter. First Trust Advisors LP bought a new stake in Main Street Capital in the 4th quarter valued at about $6,059,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in Main Street Capital during the fourth quarter valued at about $6,007,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.