Insider Buying: Main Street Capital (NYSE:MAIN) CAO Buys 2,550 Shares

Key Points

• Main Street Capital’s CAO Ryan Mchugh purchased 2,550 shares at an average price of $59.05, investing approximately $150,578 and increasing his direct ownership by 12.69%.
• The stock fell 0.8% to $58.74, while the company reported quarterly EPS of $0.97, slightly exceeding analyst estimates, and revenue of $327.56 million.
• Main Street Capital announced a monthly dividend of $0.265 per share, representing an annualized yield of approximately 5.4%; analysts collectively maintain a “Hold” rating with an average price target of $60.83.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) CAO Ryan Mchugh acquired 2,550 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $59.05 per share, with a total value of $150,577.50. Following the purchase, the chief accounting officer directly owned 22,647 shares of the company's stock, valued at $1,337,305.35. This represents a 12.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Main Street Capital Stock Down 0.8%

Main Street Capital stock traded down $0.49 during mid-day trading on Friday, reaching $58.74. 434,697 shares of the company were exchanged, compared to its average volume of 706,577. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market cap of $5.49 billion, a P/E ratio of 11.84 and a beta of 0.71. The business has a fifty day moving average of $53.37 and a 200 day moving average of $54.88. Main Street Capital Corporation has a 12-month low of $48.95 and a 12-month high of $67.48.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The business 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%. Research analysts anticipate that Main Street Capital Corporation will post 3.78 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid 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 payout ratio is 64.11%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research upgraded shares of Main Street Capital from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Truist Financial increased their target price on shares of Main Street Capital from $53.00 to $57.00 and gave the company a "hold" rating in a research report on Monday. Royal Bank Of Canada lowered their target price on shares of Main Street Capital from $66.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company lifted their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Main Street Capital in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.83.

Hedge Funds Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Garner Asset Management Corp purchased a new stake in Main Street Capital during the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Main Street Capital in the second quarter worth about $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock worth $28,000 after purchasing an additional 250 shares during the period. Sankala Group LLC acquired a new stake in shares of Main Street Capital during the fourth quarter worth about $29,000. Finally, Gilpin Wealth Management LLC purchased a new stake in Main Street Capital in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 20.31% of the company's stock.

Main Street Capital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source