Mr. Foster Vincent is CEO of MAIN. From dates November 15, 2012 to March 15, 2013 (4 months) he has purchased in the open market 20,428 shares of MAIN with an average price of $31.28. He has not sold a single share during this time. He currently owns the vast majority of insider shares with a total of 1,338,706. The next insider holder is Mr. Todd Repport who owns 357,625 shares. So, Mr. Vincent holds 3 times more insider shares than any other insider. Mr. Vincent, CEO has bought a total of $639,007 worth of MAIN stock over the last 6 months and hasn't sold any. I got this infomation from the insider holding page on this website for MAIN if you wish to check the data or my math.
Hold on longs, if the CEO is buying large quantities with an average price of $31.28 and the current price is $28.85 then I think you need not worry about a bit of volatility. Think income stream, long term, not trading and short time frames. Follow the lead insider.
I am making my first buy-in today at the market....it's trading almost dead on the 200 and 90 day moving averages which have met together at this price point. If I am buying below the CEO's recent buy's then I think I got a bargain. My usual method, buy a position, watch how it trades for 60 days, buy more & hold. I want the divvie and a 5% rise in share price by year end, is that asking to much?
Not sure if your question at the end of your message is rhetorical or you would like an opinion. My only comment regarding wanting the share price to go up 5% from your entry point by year's end is really not the market's concern. If it goes up 5% so what? Will you sell it or hold it? If it goes down 5% by year's end same question. Do you need to get your money back with 5% plus the divy or else? If so, well, the market is not a good place to gamble. I think better to make buy and sell decisions based on how the company is performing (earnings, dividend raises, ROI, ROA, the boring stuff) and not how the market prices the stock by year's end. For me, I like the business models of the best performing BDCs. I like the idea of investing in low and middle market businesses that have opportunities to grow and develop while I lend them money for capital investments. I like being part of that tier of the business development space. For me, investing is more of the concept of buying an income stream that demonstrates strong relative strength and following what the insiders are doing. Those three elements; nice fat yields, good market returns, and solid insiders buying is a good reason to enter and keep the stock. How Mr. Market prices the company at the end of the day doesn't matter to me. Good luck to you, hope you get what you want.