Main Street Capital (NYSE:MAIN) CAO Ryan Mchugh Acquires 2,550 Shares of Stock

Main Street Capital Corporation (NYSE:MAIN) CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the purchase, the chief accounting officer owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Main Street Capital Stock Down 0.8%

NYSE:MAIN opened at $58.74 on Friday. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 11.84 and a beta of 0.71. Main Street Capital Corporation has a twelve month low of $48.95 and a twelve month high of $67.48. The company has a current ratio of 0.05, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $53.51 and a 200-day simple moving average of $54.91.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. Analysts anticipate that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be given a $0.265 dividend. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s payout ratio is 64.11%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MAIN shares. Royal Bank Of Canada reduced their target price on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Truist Financial boosted their price target on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Childress Capital Advisors LLC lifted its position in shares of 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 worth $17,739,000 after purchasing an additional 182,973 shares during the period. Adell Harriman & Carpenter Inc. increased its holdings in Main Street Capital by 5.3% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock valued at $28,893,000 after buying an additional 23,942 shares during the period. Entropy Technologies LP purchased a new position in Main Street Capital during the first quarter valued at approximately $1,964,000. Brighton Jones LLC bought a new position in Main Street Capital in the fourth quarter worth approximately $304,000. Finally, Legal & General Group Plc raised its stake in Main Street Capital by 15.2% in the fourth quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock worth $43,479,000 after buying an additional 95,177 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors.

About Main Street Capital

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.