Main Street Capital (NYSE:MAIN) Shares Down 0.9% - What's Next?

Main Street Capital Co. (NYSE:MAIN - Get Free Report) fell 0.9% on Monday . The company traded as low as $53.00 and last traded at $53.32. 151,069 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 444,572 shares. The stock had previously closed at $53.83.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MAIN shares. Truist Financial lifted their price objective on Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a research report on Monday, March 3rd. UBS Group dropped their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Main Street Capital currently has an average rating of "Hold" and a consensus price target of $52.60.

Main Street Capital Stock Up 0.2 %

The firm's fifty day moving average is $54.99 and its 200-day moving average is $56.25. The stock has a market capitalization of $4.72 billion, a P/E ratio of 9.65 and a beta of 0.86. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. As a group, equities research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.255 dividend. This is an increase from Main Street Capital's previous monthly dividend of $0.25. This represents a $3.06 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital's payout ratio is currently 51.37%.

Insider Transactions at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the firm'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 $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares of the company's stock, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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. 4.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Main Street Capital

A number of large investors have recently modified their holdings of the company. Asset Planning Inc purchased a new position in Main Street Capital during the 4th quarter worth $29,000. Spire Wealth Management purchased a new position in shares of Main Street Capital in the 1st quarter worth approximately $40,000. Wellington Shields & Co. LLC bought a new position in shares of Main Street Capital in the first quarter valued at approximately $41,000. Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the fourth quarter worth $45,000. Finally, Colonial Trust Advisors purchased a new position in Main Street Capital in the fourth quarter worth $46,000. 20.31% of the stock is currently owned by institutional investors.

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.