Insider Buying: Main Street Capital (NYSE:MAIN) CAO Purchases $150,577.50 in Stock

Main Street Capital Corporation (NYSE:MAIN) CAO Ryan Mchugh purchased 2,550 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Main Street Capital Price Performance

MAIN opened at $58.74 on Monday. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $67.48. The firm has a 50-day moving average of $53.51 and a 200 day moving average of $54.85. 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 market cap of $5.49 billion, a P/E ratio of 11.84 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data 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. The business had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. On average, research analysts expect that Main Street Capital Corporation will post 3.78 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a $0.265 dividend. This represents a c) dividend on an annualized basis and a dividend 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

Several equities analysts have weighed in on the company. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company boosted their target price on Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, August 10th. Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Citizens Jmp cut their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.83.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently made changes to their positions in the stock. Childress Capital Advisors LLC increased 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 worth $17,739,000 after acquiring an additional 182,973 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its position in shares of Main Street Capital by 5.3% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 478,435 shares of the financial services provider’s stock valued at $28,893,000 after acquiring an additional 23,942 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Main Street Capital during the 1st quarter valued at about $1,964,000. Brighton Jones LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth about $304,000. Finally, Legal & General Group Plc increased its position in shares of 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 purchasing an additional 95,177 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other 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.