Main Street Capital (NYSE:MAIN) Trading Down 0.2% - Should You Sell?

Main Street Capital Co. (NYSE:MAIN - Get Free Report)'s stock price was down 0.2% during trading on Thursday . The stock traded as low as $54.91 and last traded at $55.23. Approximately 73,088 shares were traded during trading, a decline of 88% from the average daily volume of 595,757 shares. The stock had previously closed at $55.37.

Analysts Set New Price Targets

A number of brokerages have recently commented on MAIN. UBS Group decreased their price objective 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. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, Truist Financial reduced their target price 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $52.80.

Main Street Capital Stock Up 0.3%

The stock has a 50 day moving average of $54.41 and a 200-day moving average of $56.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $4.94 billion, a P/E ratio of 10.06 and a beta of 0.86.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $137.50 million. Research analysts predict that Main Street Capital Co. will post 4.11 earnings per share 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. Stockholders of record on Monday, September 8th will be given a $0.255 dividend. This represents a $3.06 annualized dividend and a dividend yield of 5.51%. This is a boost from Main Street Capital's previous monthly dividend of $0.25. The ex-dividend date is Monday, September 8th. Main Street Capital's dividend payout ratio (DPR) is currently 50.93%.

Insider Activity

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the firm'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 sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business's stock in a transaction on 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. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in shares of 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 valued at $33,405,000 after acquiring an additional 589,307 shares during the period. Invesco Ltd. boosted its stake in Main Street Capital by 282.5% in the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares during the period. Raymond James Financial Inc. purchased a new stake in Main Street Capital during the 4th quarter valued at approximately $10,460,000. Victory Capital Management Inc. purchased a new position in shares of Main Street Capital in the first quarter worth $6,205,000. Finally, First Trust Advisors LP bought a new position in shares of Main Street Capital during the fourth quarter worth $6,059,000. Institutional investors 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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