Main Street Capital (NYSE:MAIN) CAO Buys 2,550 Shares of Stock

Main Street Capital Corporation (NYSE:MAIN) CAO Ryan Mchugh acquired 2,550 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was acquired at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. The trade was a 12.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Main Street Capital Stock Performance

Shares of Main Street Capital stock traded down $0.49 during trading on Friday, hitting $58.74. 434,697 shares of the company’s stock were exchanged, compared to its average volume of 706,577. The business has a 50-day simple moving average of $53.37 and a 200-day simple moving average of $54.88. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 11.84 and a beta of 0.71. Main Street Capital Corporation has a 52-week low of $48.95 and a 52-week high of $67.48. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $327.56 million for the quarter, compared to the consensus estimate of $144.59 million. Main Street Capital had a return on equity of 11.95% and a net margin of 78.49%. On average, research analysts forecast that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be given a $0.265 dividend. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s dividend payout ratio is currently 64.11%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MAIN shares. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup restated a “market outperform” rating on shares of Main Street Capital in a research report on Monday. Wells Fargo & Company lifted their price objective on shares of Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday. Weiss Ratings upgraded shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.83.

Institutional Investors Weigh In On Main Street Capital

Institutional investors have recently bought and sold shares of the company. Garner Asset Management Corp acquired a new position in shares of Main Street Capital during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its position in shares of Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Sankala Group LLC acquired a new stake in shares of Main Street Capital in the fourth quarter worth approximately $29,000. Gilpin Wealth Management LLC purchased a new stake in shares of Main Street Capital during the fourth quarter worth approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in Main Street Capital in the 2nd quarter valued at $28,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.