Main Street Capital Target of Unusually High Options Trading (NYSE:MAIN)

Main Street Capital Corporation (NYSE:MAIN) saw unusually large options trading on Tuesday. Traders acquired 7,461 put options on the company. This is an increase of approximately 723% compared to the typical volume of 907 put options.

Main Street Capital Trading Down 0.7%

Shares of NYSE:MAIN traded down $0.42 during midday trading on Tuesday, reaching $58.50. The company’s stock had a trading volume of 367,704 shares, compared to its average volume of 692,554. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $67.34. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a 50 day moving average price of $54.32 and a two-hundred day moving average price of $54.62. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 11.78 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. As a group, analysts forecast that Main Street Capital will post 3.77 earnings per share for the current year.

Main Street Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAIN shares. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada cut 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. Wells Fargo & Company boosted their target price on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Truist Financial increased their price target on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.83.

Insider Transactions at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh acquired 2,550 shares of the company’s 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 directly owned 22,647 shares of the company’s stock, valued at $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. Also, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Main Street Capital by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after purchasing an additional 162,580 shares in the last quarter. Corient Private Wealth LLC raised its stake in Main Street Capital by 3,880.8% during the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after buying an additional 868,092 shares during the period. UBS Group AG raised its stake in Main Street Capital by 160.7% during the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after buying an additional 534,374 shares during the period. Legal & General Group Plc bought a new position in Main Street Capital in the second quarter worth approximately $43,323,000. Finally, Adell Harriman & Carpenter Inc. boosted its holdings in Main Street Capital by 1.3% in the first quarter. Adell Harriman & Carpenter Inc. now owns 484,584 shares of the financial services provider’s stock worth $25,664,000 after acquiring an additional 6,149 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.