Dwayne L. Hyzak Sells 120,000 Shares of Main Street Capital Co. (NYSE:MAIN) Stock

Main Street Capital Co. (NYSE:MAIN) CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Main Street Capital Trading Down 1.9 %

MAIN traded down $1.13 during trading on Wednesday, hitting $57.92. 697,087 shares of the stock were exchanged, compared to its average volume of 413,495. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The firm has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $55.61.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). The business had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. As a group, equities analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be given a $0.30 dividend. This represents a dividend yield of 7.11%. This is a positive change from Main Street Capital’s previous dividend of $0.25. The ex-dividend date of this dividend is Thursday, March 20th. Main Street Capital’s payout ratio is presently 51.37%.

Wall Street Analyst Weigh In

Separately, Truist Financial increased their target price on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Main Street Capital during the 4th quarter worth $10,460,000. Benjamin Edwards Inc. raised its position in shares of Main Street Capital by 971.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock valued at $7,078,000 after purchasing an additional 127,988 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Main Street Capital by 470.4% during the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock valued at $8,152,000 after buying an additional 114,768 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Main Street Capital in the 4th quarter valued at $6,059,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Main Street Capital during the 4th quarter worth about $6,007,000. Institutional investors 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.