TrueMark Investments LLC acquired a new stake in Main Street Capital Co. (NYSE:MAIN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,617 shares of the financial services provider's stock, valued at approximately $446,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Asset Planning Inc purchased a new position in shares of Main Street Capital in the 4th quarter worth about $29,000. Truvestments Capital LLC purchased a new stake in Main Street Capital during the third quarter worth approximately $39,000. Wilmington Savings Fund Society FSB purchased a new stake in Main Street Capital during the third quarter worth approximately $50,000. AdvisorNet Financial Inc increased its position in shares of Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock worth $72,000 after acquiring an additional 729 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 311 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 402,371 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider David L. Magdol sold 100,000 shares of the 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 $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.
Analyst Ratings Changes
Separately, Truist Financial increased their price target on Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 3rd.
View Our Latest Analysis on Main Street Capital
Main Street Capital Price Performance
MAIN opened at $56.48 on Tuesday. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month 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. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of 10.23 and a beta of 1.26. The company has a fifty day simple moving average of $59.59 and a 200 day simple moving average of $55.84.
Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (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 business had revenue of $140.44 million for the quarter, compared to analysts' expectations of $141.40 million. Equities research analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal 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 given a dividend of $0.30 per share. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 7.11%. This is an increase from Main Street Capital's previous dividend of $0.25. Main Street Capital's dividend payout ratio (DPR) is presently 51.37%.
Main Street Capital Profile
(
Free Report)
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.
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