Ameriflex Group Inc. Purchases New Shares in Main Street Capital Co. (NYSE:MAIN)

Ameriflex Group Inc. purchased a new stake in Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 24,033 shares of the financial services provider’s stock, valued at approximately $1,489,000.

A number of other institutional investors have also made changes to their positions in MAIN. Asset Planning Inc bought a new stake in Main Street Capital during the 4th quarter worth about $29,000. Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the 4th quarter worth about $45,000. Colonial Trust Advisors bought a new stake in Main Street Capital during the 4th quarter worth about $46,000. Jones Financial Companies Lllp raised its holdings in 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 worth $77,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Main Street Capital by 34.2% during the 4th quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 381 shares during the last quarter. 20.31% of the stock is owned by institutional investors.

Insider Activity at Main Street Capital

In related news, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s 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 $6,966,000.00. Following the completion of the transaction, the chief executive officer now directly owns 402,371 shares in the company, valued at approximately $23,357,636.55. The trade was a 22.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the business’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 owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is owned by insiders.

Main Street Capital Price Performance

Main Street Capital stock opened at $55.48 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 10.05 and a beta of 0.86. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The business has a 50-day moving average of $54.33 and a 200-day moving average of $56.54. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million. On average, equities analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.06 annualized dividend and a dividend yield of 5.52%. Main Street Capital’s payout ratio is currently 50.93%.

Analysts Set New Price Targets

MAIN has been the subject of several recent research reports. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. UBS Group decreased their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Truist Financial decreased their target price on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.80.

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.