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 stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares in the company, valued at $21,895,415.10. This represents a 20.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Main Street Capital Stock Performance

NYSE MAIN opened at $57.46 on Friday. The business’s 50 day moving average price is $59.73 and its 200-day moving average price is $55.64. Main Street Capital Co. has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The company has a market cap of $5.09 billion, a P/E ratio of 10.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

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 for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). The firm had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Sell-side analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted 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.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MAIN. Asset Planning Inc bought a new stake in shares of Main Street Capital during the 4th quarter worth approximately $29,000. Truvestments Capital LLC purchased a new stake in Main Street Capital in the third quarter worth $39,000. Kapitalo Investimentos Ltda bought a new stake in shares of Main Street Capital during the fourth quarter worth $45,000. Colonial Trust Advisors purchased a new stake in shares of Main Street Capital during the fourth quarter valued at $46,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Main Street Capital in the third quarter worth about $50,000. Hedge funds and other 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.