Main Street Capital president sells $5.8 million in stock

David L. Magdol, President and Chief Investment Officer of Main Street Capital Corp (NYSE:MAIN), has recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Magdol disposed of 100,000 shares at an average price of $58.05 per share, totaling approximately $5.8 million. This transaction took place on March 26, 2025, when the stock was trading near its 52-week high of $63.31. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ US stocks.

Prior to this sale, Magdol also acquired shares through a dividend reinvestment plan on March 14, 2025. These acquisitions, totaling $9,378, were made at prices ranging from $54.71 to $55.6366 per share. Following these transactions, Magdol now holds 377,182 shares of Main Street Capital, which currently offers a substantial 7.11% dividend yield and has maintained dividend payments for 19 consecutive years.

Main Street Capital, headquartered in Houston, Texas, is a principal investment firm that provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. The company, with a market capitalization of $5.12 billion, maintains strong financial health with a current ratio of 1.69 and has delivered a 37.67% total return over the past year.

In other recent news, Main Street Capital Corporation reported its fourth-quarter 2024 earnings, which fell short of Wall Street expectations. The company announced an earnings per share (EPS) of $1.02, missing the forecasted $1.04, while revenue reached $140.4 million, slightly below the anticipated $141.4 million. Despite these misses, Main Street Capital saw an 8.6% year-over-year increase in total investment income, driven by strategic investments and operational efficiency. The company also reported a strong return on equity of 25.4% for the quarter and a net asset value per share increase of 8.4% year-over-year. Additionally, Main Street Capital’s investment activity in the lower middle market segment was robust, with significant investments expected to drive future growth. The company remains focused on maintaining a conservative leverage approach, with a regulatory debt-to-equity ratio of 0.64x. Looking ahead, Main Street Capital anticipates a distributable net investment income of at least $1.05 per share in the first quarter of 2025 and plans to recommend another supplemental dividend in the second quarter.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.