Triumph Capital Management Sells 4,934 Shares of Main Street Capital Co. (NYSE:MAIN)

Triumph Capital Management reduced its stake in Main Street Capital Co. (NYSE:MAIN) by 39.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,718 shares of the financial services provider’s stock after selling 4,934 shares during the period. Triumph Capital Management’s holdings in Main Street Capital were worth $452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealthstar Advisors LLC bought a new position in shares of Main Street Capital in the 4th quarter worth $1,326,000. Franklin Resources Inc. grew 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 purchasing an additional 35,227 shares during the last quarter. Segment Wealth Management LLC raised its holdings 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 purchasing an additional 6,856 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Main Street Capital during the fourth quarter valued at about $957,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Main Street Capital by 270.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider’s stock valued at $545,000 after buying an additional 6,793 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Trading Down 1.2 %

Shares of NYSE:MAIN opened at $53.55 on Thursday. 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 52-week low of $45.00 and a 52-week high of $63.32. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 9.70 and a beta of 0.98. The business has a 50-day moving average price of $55.67 and a 200-day moving average price of $56.19.

Main Street Capital (NYSE:MAIN) last posted its quarterly 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). The business had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Equities analysts predict that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 27th. Shareholders 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 of this dividend was Thursday, March 20th. Main Street Capital’s dividend payout ratio is presently 51.37%.

Analysts Set New Price Targets

Several research firms recently commented on MAIN. Truist Financial boosted 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. UBS Group reduced their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.60.

Insiders Place Their Bets

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 377,182 shares in the company, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

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.