Jason Beauvais Sells 6,830 Shares of Main Street Capital (NYSE:MAIN) Stock

Main Street Capital Corporation (NYSE:MAIN) EVP Jason Beauvais sold 6,830 shares of the 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 sale, the executive vice president directly owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Main Street Capital Trading Up 0.2%

Main Street Capital stock opened at $52.00 on Thursday. Main Street Capital Corporation has a 1 year low of $48.95 and a 1 year high of $67.77. The firm’s 50 day moving average price is $52.09 and its 200-day moving average price is $56.37. 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 has a market cap of $4.84 billion, a P/E ratio of 10.95 and a beta of 0.72.

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

Main Street Capital Announces Dividend

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

Institutional Investors Weigh In On Main Street Capital

Several institutional investors have recently modified their holdings of the stock. Garner Asset Management Corp purchased a new position in shares of Main Street Capital in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its position 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 worth $28,000 after buying an additional 250 shares during the last quarter. Investors Research Corp purchased a new position in Main Street Capital during the fourth quarter worth $30,000. Sankala Group LLC bought a new position in Main Street Capital during the fourth quarter valued at $29,000. Finally, Gilpin Wealth Management LLC bought a new position in Main Street Capital during the fourth quarter valued at $31,000. 20.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MAIN shares. Citizens Jmp decreased their target price on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company began coverage on Main Street Capital in a report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price target for the company. Weiss Ratings cut Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Zacks Research downgraded Main Street Capital from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $59.14.

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.