Main Street Capital Co. (NYSE:MAIN) CEO Dwayne L. Hyzak Sells 120,000 Shares

Main Street Capital Co. (NYSE:MAIN) CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction 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 directly owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Main Street Capital Stock Down 1.9 %

Main Street Capital stock opened at $57.92 on Thursday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. 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 company’s 50-day moving average price is $59.79 and its two-hundred day moving average price is $55.63. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data 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). 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 during the quarter, compared to the consensus estimate of $141.40 million. On average, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be issued a $0.30 dividend. This is a positive change from Main Street Capital’s previous dividend of $0.25. The ex-dividend date of this dividend is Thursday, March 20th. This represents a dividend yield of 7.11%. Main Street Capital’s dividend payout ratio is 51.37%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wealthstar Advisors LLC acquired a new stake in Main Street Capital in the 4th quarter valued at about $1,326,000. Franklin Resources Inc. raised its holdings in shares of Main Street Capital by 19.3% in the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock worth $11,119,000 after purchasing an additional 35,227 shares in the last quarter. Segment Wealth Management LLC lifted 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 valued at $2,951,000 after purchasing an additional 6,856 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Main Street Capital during the fourth quarter worth approximately $957,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in Main Street Capital in the fourth quarter worth approximately $6,007,000. 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.