Main Street Capital (NYSE:MAIN) Given New $37.00 Price Target at Hovde Group

Main Street Capital (NYSE:MAINGet Rating) had its price target lowered by investment analysts at Hovde Group to $37.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Hovde Group’s target price suggests a potential upside of 4.20% from the company’s previous close.

A number of other equities research analysts have also commented on MAIN. StockNews.com began coverage on Main Street Capital in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet cut Main Street Capital from a “b” rating to a “c+” rating in a research note on Friday, February 25th. Finally, Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average price target of $42.83.

Shares of NYSE:MAIN traded down $1.78 during midday trading on Friday, hitting $35.51. The company had a trading volume of 4,887 shares, compared to its average volume of 400,484. Main Street Capital has a 12 month low of $36.39 and a 12 month high of $47.13. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 1.64 and a beta of 1.32. The firm has a fifty day simple moving average of $41.00 and a 200 day simple moving average of $42.84.

Main Street Capital (NYSE:MAINGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Main Street Capital had a return on equity of 11.40% and a net margin of 110.79%. The business had revenue of $79.40 million for the quarter, compared to analyst estimates of $82.59 million. During the same period last year, the company earned $0.58 EPS. Equities analysts forecast that Main Street Capital will post 2.89 EPS for the current fiscal year.

In other news, Director Vincent D. Foster sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $43.15, for a total value of $2,157,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Earl Jackson purchased 1,800 shares of the business’s stock in a transaction on Friday, March 25th. The shares were acquired at an average cost of $42.22 per share, with a total value of $75,996.00. The disclosure for this purchase can be found here. Insiders have sold a total of 150,010 shares of company stock valued at $6,403,425 over the last ninety days. Company insiders own 4.56% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Main Street Capital by 4,957.1% in the first quarter. BNP Paribas Arbitrage SA now owns 9,305 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 9,121 shares during the period. Advisors Asset Management Inc. grew its position in Main Street Capital by 9.8% in the first quarter. Advisors Asset Management Inc. now owns 83,545 shares of the financial services provider’s stock valued at $3,562,000 after acquiring an additional 7,475 shares during the last quarter. Quantbot Technologies LP bought a new position in Main Street Capital in the first quarter valued at about $514,000. Royal Bank of Canada grew its position in Main Street Capital by 12.7% in the first quarter. Royal Bank of Canada now owns 131,267 shares of the financial services provider’s stock valued at $5,597,000 after acquiring an additional 14,808 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its position in Main Street Capital by 26.4% in the first quarter. First Republic Investment Management Inc. now owns 33,714 shares of the financial services provider’s stock valued at $1,438,000 after acquiring an additional 7,051 shares during the last quarter. Institutional investors own 17.21% of the company’s stock.

About Main Street Capital (Get Rating)

Main Street Capital Corporation is a private equity firm 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.

Further Reading

Stock Target Advisor logo

Analyst Recommendations for Main Street Capital (NYSE:MAIN)

Receive News & Ratings for Main Street Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Main Street Capital and related companies with MarketBeat.com's FREE daily email newsletter.