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

Main Street Capital Corporation (NYSE:MAIN) EVP Jason Beauvais sold 6,830 shares of Main Street Capital stock in a transaction 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 owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Main Street Capital Price Performance

NYSE MAIN opened at $52.02 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The stock’s fifty day moving average price is $52.05 and its 200 day moving average price is $56.30. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.77. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 10.95 and a beta of 0.72.

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

Main Street Capital Dividend Announcement

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

Hedge Funds Weigh In On Main Street Capital

Several institutional investors have recently made changes to their positions in the company. Garner Asset Management Corp acquired a new position in shares of Main Street Capital in the 4th quarter valued at $28,000. MassMutual Private Wealth & Trust FSB acquired a new stake in Main Street Capital during the second quarter valued at $28,000. Smartleaf Asset Management LLC increased its holdings in Main Street Capital by 109.6% in the second 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 in the last quarter. Sankala Group LLC purchased a new position in Main Street Capital in the fourth quarter valued at $29,000. Finally, Investors Research Corp acquired a new position in shares of Main Street Capital in the fourth quarter worth about $30,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MAIN. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Citizens Jmp cut their price objective on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Zacks Research cut shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, May 28th. Finally, Wells Fargo & Company assumed coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 target price for the company. Three equities 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. According to data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus target price of $59.14.

Main Street Capital Company Profile

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.