Insider Selling: Main Street Capital (NYSE:MAIN) Director Sells 14,000 Shares of 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 business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director directly owned 82,383 shares of the company's stock, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Main Street Capital Trading Down 0.7%

Shares of Main Street Capital stock traded down $0.4580 during trading hours on Tuesday, reaching $65.1720. The stock had a trading volume of 685,927 shares, compared to its average volume of 505,432. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 10.74 and a beta of 0.85. Main Street Capital Corporation has a 1 year low of $47.00 and a 1 year high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $62.41 and a two-hundred day simple moving average of $58.55.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. As a group, equities research analysts anticipate that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.255 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 8th. Main Street Capital's dividend payout ratio (DPR) is currently 50.41%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MAIN. UBS Group reiterated a "neutral" rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley upped their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, Truist Financial upped their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $59.75.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock valued at $28,000 after buying an additional 250 shares during the last quarter. Financial Network Wealth Advisors LLC acquired a new stake in Main Street Capital in the first quarter valued at $39,000. Spire Wealth Management bought a new position in Main Street Capital during the 1st quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new position in Main Street Capital during the 1st quarter worth $41,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Main Street Capital in the 4th quarter worth about $45,000. 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.