Main Street Capital (NYSE:MAIN) Trading Up 0.4% – Here’s What Happened

Main Street Capital Co. (NYSE:MAIN)’s share price shot up 0.4% during trading on Monday . The stock traded as high as $55.55 and last traded at $55.51. 139,928 shares changed hands during trading, a decline of 70% from the average session volume of 461,510 shares. The stock had previously closed at $55.29.

Analysts Set New Price Targets

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

Main Street Capital Stock Up 1.4%

The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $54.38 and a 200 day moving average of $56.37. The company has a market capitalization of $4.99 billion, a PE ratio of 10.16 and a beta of 0.86.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Sell-side analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.255 dividend. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.06 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is currently 50.93%.

Insider Activity

In related news, insider David L. Magdol sold 100,000 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 transaction of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the company’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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of MAIN. Asset Planning Inc bought a new position in Main Street Capital in the 4th quarter worth $29,000. Financial Network Wealth Advisors LLC bought a new stake in Main Street Capital during the first quarter valued at about $39,000. Spire Wealth Management bought a new stake in Main Street Capital during the first quarter valued at about $40,000. Wellington Shields & Co. LLC bought a new stake in Main Street Capital during the first quarter valued at about $41,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the fourth quarter valued at about $45,000. 20.31% of the stock is owned by institutional investors.

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.