Main Street Capital (NYSE:MAIN) EVP Sells $353,315.90 in Stock

by · The Markets Daily

Main Street Capital Corporation (NYSE:MAINGet Free Report) EVP Jason Beauvais sold 6,830 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president directly owned 196,185 shares in the company, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Main Street Capital Stock Performance

Shares of NYSE:MAIN traded up $0.40 during trading on Tuesday, hitting $51.95. 655,013 shares of the stock traded hands, compared to its average volume of 721,327. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 10.94 and a beta of 0.72. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $52.20 and a two-hundred day moving average price of $56.52. Main Street Capital Corporation has a 52-week low of $48.95 and a 52-week high of $67.77.

Main Street Capital (NYSE:MAINGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The firm had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. As a group, equities analysts predict that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be paid a $0.265 dividend. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s payout ratio is currently 65.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MAIN. Citizens Jmp lowered their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Royal Bank Of Canada reduced their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company began coverage on shares of Main Street Capital in a report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price target for the company. Finally, Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and a consensus target price of $59.14.

View Our Latest Analysis on Main Street Capital

Institutional Investors Weigh In On Main Street Capital

Several large investors have recently bought and sold shares of MAIN. Van ECK Associates Corp lifted its position in shares of Main Street Capital by 100.9% in the third quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock valued at $155,681,000 after acquiring an additional 1,229,863 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Main Street Capital by 3,880.8% during the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after purchasing an additional 868,092 shares in the last quarter. UBS Group AG raised its stake in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after purchasing an additional 534,374 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Main Street Capital by 637.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock valued at $21,547,000 after purchasing an additional 308,404 shares during the last quarter. Finally, Childress Capital Advisors LLC raised its stake in Main Street Capital by 165.2% in the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock valued at $17,739,000 after purchasing an additional 182,973 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

About Main Street Capital

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Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.

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