Key Points
- Main Street Capital CAO Ryan Mchugh bought 2,550 shares at an average price of $59.05, increasing his direct ownership by 12.69% to 22,647 shares.
- Main Street Capital reported quarterly EPS of $0.97, slightly above analysts’ $0.96 estimate, and declared a monthly dividend of $0.265 per share, representing a 5.4% yield.
- Analysts maintain a generally cautious outlook, with three Buy ratings and seven Holds; the stock’s consensus rating is Hold and its average price target is $60.83.
Main Street Capital Corporation (NYSE:MAIN - Get Free Report) CAO Ryan Mchugh acquired 2,550 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Main Street Capital Price Performance
Shares of MAIN stock opened at $58.74 on Friday. Main Street Capital Corporation has a 1-year low of $48.95 and a 1-year high of $67.48. The stock's 50-day moving average is $53.51 and its 200 day moving average is $54.91. The company has a market cap of $5.49 billion, a P/E ratio of 11.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.06.
Main Street Capital (NYSE:MAIN - Get Free Report) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Research analysts predict that Main Street Capital Corporation will post 3.78 earnings per share for the current fiscal year.
Main Street Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders 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 is Tuesday, December 8th. Main Street Capital's dividend payout ratio (DPR) is currently 64.11%.
Hedge Funds Weigh In On Main Street Capital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Main Street Capital during the 2nd quarter worth about $43,323,000. The Manufacturers Life Insurance Company acquired a new position in shares of Main Street Capital in the second quarter valued at about $1,501,000. Dearborn Partners LLC acquired a new position in shares of Main Street Capital in the second quarter valued at about $1,527,000. D.B. Root & Company LLC purchased a new position in shares of Main Street Capital in the second quarter worth about $602,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Main Street Capital in the second quarter worth about $906,000. Hedge funds and other institutional investors own 20.31% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on MAIN shares. Royal Bank Of Canada reduced their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Weiss Ratings downgraded shares of Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. Citigroup reaffirmed a "market outperform" rating on shares of Main Street Capital in a report on Monday. Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" 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 company. Based on data from MarketBeat, Main Street Capital currently has an average rating of "Hold" and a consensus price target of $60.83.
Check Out Our Latest Stock Analysis on MAIN
Main Street Capital Company Profile
(
Get Free Report)
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.
Further Reading
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