David L. Magdol Sells 100,000 Shares of Main Street Capital Co. (NYSE:MAIN) Stock

Main Street Capital Co. (NYSE:MAIN) insider David L. Magdol sold 100,000 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 $5,805,000.00. Following the sale, the insider now owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Main Street Capital Stock Down 0.8 %

MAIN opened at $57.46 on Friday. The firm’s 50 day simple moving average is $59.73 and its two-hundred day simple moving average is $55.64. The company has a market capitalization of $5.09 billion, a PE ratio of 10.41 and a beta of 1.26. Main Street Capital Co. has a 1-year low of $45.00 and a 1-year 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 announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS 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 the consensus estimate of $141.40 million. As a group, equities analysts forecast that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

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

Analyst Ratings Changes

Separately, Truist Financial upped 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.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently added to or reduced their stakes in the company. Wealthstar Advisors LLC purchased a new stake in shares of Main Street Capital in the fourth quarter worth $1,326,000. Franklin Resources Inc. grew its stake in Main Street Capital by 19.3% during the third 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 in the last quarter. Segment Wealth Management LLC increased its holdings in Main Street Capital by 15.8% in the 4th quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock valued at $2,951,000 after acquiring an additional 6,856 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Main Street Capital in the 4th quarter worth $957,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Main Street Capital during the 4th 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.