Main Street Capital (NYSE:MAIN) Stock Price Up 1.2% Following Strong Earnings

Main Street Capital Co. (NYSE:MAIN) shot up 1.2% during trading on Friday following a better than expected earnings announcement. The company traded as high as $54.53 and last traded at $53.64. 257,065 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 448,790 shares. The stock had previously closed at $53.03.

The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.255 per share. This represents a $3.06 annualized dividend and a yield of 5.79%. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital’s dividend payout ratio is presently 51.37%.

Analysts Set New Price Targets

MAIN has been the topic of several recent research reports. UBS Group reduced their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Truist Financial upped their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average price target of $52.60.

Insider Buying and Selling at Main Street Capital

In other news, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds have recently made changes to their positions in the company. Asset Planning Inc bought a new position in Main Street Capital in the fourth quarter worth $29,000. Spire Wealth Management purchased a new position in Main Street Capital during the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC bought a new stake in Main Street Capital during the first quarter worth about $41,000. Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital in the fourth quarter worth about $45,000. Finally, Colonial Trust Advisors bought a new position in shares of Main Street Capital during the fourth quarter valued at approximately $46,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Down 0.4 %

The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $54.72 and its 200-day moving average price is $56.26. The stock has a market capitalization of $4.68 billion, a PE ratio of 9.57 and a beta of 0.86.

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.