TrueMark Investments LLC Makes New $446,000 Investment in Main Street Capital Co. (NYSE:MAIN)

TrueMark Investments LLC purchased a new position in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,617 shares of the financial services provider’s stock, valued at approximately $446,000.

Other hedge funds also recently modified their holdings of the company. Wealthstar Advisors LLC bought a new stake in Main Street Capital in the 4th quarter valued at $1,326,000. Franklin Resources Inc. raised its stake in shares of Main Street Capital by 19.3% in the 3rd quarter. Franklin Resources Inc. now owns 217,461 shares of the financial services provider’s stock valued at $11,119,000 after purchasing an additional 35,227 shares during the period. Segment Wealth Management LLC boosted its position in shares of Main Street Capital by 15.8% during the fourth quarter. Segment Wealth Management LLC now owns 50,368 shares of the financial services provider’s stock worth $2,951,000 after buying an additional 6,856 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Main Street Capital during the fourth quarter worth about $957,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Main Street Capital in the 4th quarter valued at approximately $6,007,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their price target on Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd.

Main Street Capital Trading Down 1.9 %

Main Street Capital stock opened at $57.92 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a 50-day moving average of $59.79 and a 200-day moving average of $55.63. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 10.49 and a beta of 1.26. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The company had revenue of $140.44 million during the quarter, compared to the consensus estimate of $141.40 million. On average, equities analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be given a dividend of $0.30 per share. This is a positive change from Main Street Capital’s previous dividend of $0.25. This represents a yield of 7.11%. The ex-dividend date of this dividend is Thursday, March 20th. Main Street Capital’s dividend payout ratio is 51.37%.

Insider Activity

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at $23,357,636.55. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

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.