Main Street Capital Co. (NYSE:MAIN) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC trimmed its holdings in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 76.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,038 shares of the financial services provider's stock after selling 6,448 shares during the period. Tower Research Capital LLC TRC's holdings in Main Street Capital were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MAIN. Barclays PLC increased its stake in shares of Main Street Capital by 75.6% during the 3rd quarter. Barclays PLC now owns 72,265 shares of the financial services provider's stock worth $3,624,000 after purchasing an additional 31,110 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Main Street Capital during the 3rd quarter worth approximately $50,000. Franklin Resources Inc. increased its stake in shares of Main Street Capital by 19.3% during the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider's stock worth $11,119,000 after purchasing an additional 35,227 shares in the last quarter. RMR Wealth Builders increased its stake in shares of Main Street Capital by 6.3% during the 4th quarter. RMR Wealth Builders now owns 14,140 shares of the financial services provider's stock worth $828,000 after purchasing an additional 832 shares in the last quarter. Finally, Brookstone Capital Management purchased a new position in shares of Main Street Capital during the 4th quarter worth approximately $226,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David L. Magdol sold 100,000 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 transaction of $5,805,000.00. Following the completion of the transaction, the insider now owns 377,182 shares in the company, valued at $21,895,415.10. This represents a 20.96% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company's stock.

Main Street Capital Trading Up 1.7%

MAIN stock traded up $0.92 during midday trading on Monday, hitting $53.87. The stock had a trading volume of 738,427 shares, compared to its average volume of 451,818. The firm has a market cap of $4.77 billion, a PE ratio of 9.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The company's 50-day moving average price is $54.72 and its 200 day moving average price is $56.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. The business had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, equities 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 company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.68%. This is an increase from Main Street Capital's previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital's dividend payout ratio is presently 50.93%.

Analysts Set New Price Targets

Several research firms have commented on MAIN. UBS Group lowered their target price on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Truist Financial lowered 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 note on Monday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and an average target price of $51.00.

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.