Insider Selling: Main Street Capital Co. (NYSE:MAIN) CEO Sells 120,000 Shares of Stock

Main Street Capital Co. (NYSE:MAIN) CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $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 accessible through the SEC website.

Main Street Capital Price Performance

Shares of MAIN opened at $57.92 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. The business’s 50-day moving average is $59.79 and its 200-day moving average is $55.63. 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) last released 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 company had revenue of $140.44 million during 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 company also recently announced a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a yield of 7.11%. This is an increase from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s payout ratio is 51.37%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wealthstar Advisors LLC acquired a new stake in shares of Main Street Capital during the 4th quarter valued at about $1,326,000. Franklin Resources Inc. lifted its stake in Main Street Capital by 19.3% in 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 during the last quarter. Segment Wealth Management LLC grew its position in Main Street Capital by 15.8% in the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock worth $2,951,000 after acquiring an additional 6,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Main Street Capital during 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 $6,007,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.