Main Street Capital (NYSE:MAIN) Stock Price Down 1% - Here's Why

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of 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. Truist Financial reduced their price objective on shares of 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. Finally, Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $52.80.

Main Street Capital Stock Down 1.9%

The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.08 and a beta of 0.86. The firm's 50 day simple moving average is $54.39 and its 200-day simple moving average is $56.44.

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 the consensus estimate of $1.00 by $0.01. The company had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. 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 business 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 dividend of $0.255 per share. 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 5.50%. The ex-dividend date is Monday, September 8th. Main Street Capital's payout ratio is presently 50.93%.

Insiders Place Their Bets

In other news, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were 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 owns 377,182 shares of the company's stock, valued at $21,895,415.10. This represents a 20.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were 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 directly owns 402,371 shares of the company's stock, valued at approximately $23,357,636.55. This represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.09% of the company's stock.

Institutional Trading of Main Street Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sciencast Management LP acquired a new stake in Main Street Capital during the 1st quarter worth approximately $209,000. Jones Financial Companies Lllp increased its position in Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock worth $33,405,000 after purchasing an additional 589,307 shares in the last quarter. Plancorp LLC acquired a new stake in Main Street Capital during the 1st quarter worth approximately $284,000. NewEdge Advisors LLC increased its position in Main Street Capital by 5,416.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider's stock worth $94,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in Main Street Capital by 1.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 98,704 shares of the financial services provider's stock worth $5,583,000 after purchasing an additional 1,712 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

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.

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