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

Main Street Capital Co. (NYSE:MAIN - Get Free Report) insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Main Street Capital Price Performance

Shares of Main Street Capital stock traded down $0.83 during trading on Friday, hitting $56.64. 301,890 shares of the company were exchanged, compared to its average volume of 418,234. The firm has a 50 day moving average price of $59.67 and a 200 day moving average price of $55.79. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 10.26 and a beta of 1.26. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week high of $63.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued 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). The company had revenue of $140.44 million during the quarter, compared to analysts' expectations of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, equities analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

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Main Street Capital Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were paid a dividend of $0.30 per share. This is a boost from Main Street Capital's previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date was Thursday, March 20th. Main Street Capital's dividend payout ratio (DPR) is currently 51.37%.

Analysts Set New Price Targets

Separately, Truist Financial raised their price target 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

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Main Street Capital in the 4th quarter worth approximately $10,460,000. Benjamin Edwards Inc. grew its position in shares of Main Street Capital by 971.3% in the third quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider's stock valued at $7,078,000 after purchasing an additional 127,988 shares during the period. Invesco Ltd. increased its stake in Main Street Capital by 470.4% in the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider's stock valued at $8,152,000 after purchasing an additional 114,768 shares during the last quarter. First Trust Advisors LP purchased a new position in Main Street Capital during the fourth quarter worth about $6,059,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Main Street Capital in the 4th quarter worth about $6,007,000. Institutional investors and hedge funds 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.