Nicholas Meserve Sells 14,000 Shares of Main Street Capital Corporation (NYSE:MAIN) Stock

Key Points

• Nicholas Meserve, a director at Main Street Capital, sold 14,000 shares of the company's stock at an average price of $67.15, reducing his ownership by 14.53%.
• Main Street Capital reported a revenue of $143.97 million for the recent quarter, surpassing analyst estimates and achieving a net margin of 96.16%.
• The company announced a monthly dividend of $0.255 per share, scheduled for distribution on December 15th, representing an annualized yield of 4.6%.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares in the company, valued at $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Main Street Capital Trading Down 0.6%

NYSE MAIN traded down $0.38 during mid-day trading on Thursday, hitting $67.16. The company's stock had a trading volume of 387,564 shares, compared to its average volume of 550,861. Main Street Capital Corporation has a 52-week low of $47.00 and a 52-week high of $67.77. The stock's fifty day simple moving average is $61.74 and its two-hundred day simple moving average is $58.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.10. The firm has a market capitalization of $6.01 billion, a P/E ratio of 11.06 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.255 dividend. The ex-dividend date is Monday, December 8th. This represents a c) annualized dividend and a yield of 4.6%. Main Street Capital's dividend payout ratio (DPR) is presently 50.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday. UBS Group reissued a "neutral" rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, B. Riley raised shares of Main Street Capital to a "hold" rating in a research report on Monday, June 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $55.60.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Lavaca Capital LLC raised its stake in shares of Main Street Capital by 3,100.0% during the second quarter. Lavaca Capital LLC now owns 6,400 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 6,200 shares during the period. Glenview Trust co purchased a new stake in shares of Main Street Capital during the second quarter valued at approximately $361,000. Squarepoint Ops LLC raised its stake in shares of Main Street Capital by 35.5% during the second quarter. Squarepoint Ops LLC now owns 26,074 shares of the financial services provider's stock valued at $1,541,000 after purchasing an additional 6,828 shares during the period. NewEdge Advisors LLC raised its stake in shares of Main Street Capital by 226.3% during the second quarter. NewEdge Advisors LLC now owns 5,401 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 3,746 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Main Street Capital by 43.7% during the second quarter. Qube Research & Technologies Ltd now owns 163,988 shares of the financial services provider's stock valued at $9,692,000 after purchasing an additional 49,899 shares during the period. 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.

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