Main Street Capital (NYSE:MAIN) Shares Down 1% - Should You Sell?

Main Street Capital Co. (NYSE:MAIN - Get Free Report) dropped 1% during trading on Wednesday . The stock traded as low as $55.93 and last traded at $56.16. Approximately 103,282 shares traded hands during trading, a decline of 78% from the average daily volume of 464,309 shares. The stock had previously closed at $56.75.

Analysts Set New Price Targets

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

Main Street Capital Price Performance

The company has a fifty day moving average of $54.33 and a 200-day moving average of $56.54. The firm has a market cap of $4.94 billion, a P/E ratio of 10.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, sell-side analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Monday, September 8th. This is an increase from Main Street Capital's previous monthly dividend of $0.25. Main Street Capital's dividend payout ratio is 50.93%.

Insider Buying and Selling at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares of the company's stock, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. This represents a 20.96% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company's stock.

Institutional Trading of Main Street Capital

Institutional investors have recently added to or reduced their stakes in the stock. Wealthstar Advisors LLC bought a new position in Main Street Capital in the 4th quarter worth about $1,326,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Main Street Capital during the 4th quarter valued at about $957,000. Nomura Asset Management Co. Ltd. grew its position in Main Street Capital by 270.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider's stock worth $545,000 after acquiring an additional 6,793 shares during the last quarter. AssuredPartners Investment Advisors LLC bought a new position in Main Street Capital during the 4th quarter worth approximately $385,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in Main Street Capital during the 4th quarter worth approximately $6,007,000. Hedge funds and other institutional investors own 20.31% of the company's stock.

About Main Street Capital

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.