B. Riley Forecasts Strong Price Appreciation for Main Street Capital (NYSE:MAIN) Stock

Main Street Capital (NYSE:MAIN) had its target price raised by analysts at B. Riley from $60.00 to $64.00 in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. B. Riley’s target price suggests a potential downside of 2.91% from the company’s current price.

A number of other analysts have also recently commented on the stock. UBS Group reiterated a “neutral” rating and issued a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Truist Financial boosted their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $59.75.

Main Street Capital Stock Up 0.4%

Main Street Capital stock traded up $0.2890 during midday trading on Monday, hitting $65.9190. 108,240 shares of the company’s stock were exchanged, compared to its average volume of 546,859. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The firm has a 50-day moving average of $62.27 and a two-hundred day moving average of $58.50. The company has a market cap of $5.90 billion, a PE ratio of 10.86 and a beta of 0.85.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. As a group, analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the sale, the executive vice president directly owned 181,526 shares of the company’s stock, valued at approximately $10,777,198.62. This represents a 7.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the sale, the director owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company’s stock.

Institutional Trading of Main Street Capital

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its position in shares of Main Street Capital by 2,243.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 36,810 shares of the financial services provider’s stock worth $2,175,000 after buying an additional 35,239 shares during the period. Evergreen Capital Management LLC bought a new position in shares of Main Street Capital during the second quarter worth approximately $204,000. CANADA LIFE ASSURANCE Co grew its position in Main Street Capital by 3.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 87,419 shares of the financial services provider’s stock worth $5,177,000 after buying an additional 2,711 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Finally, MML Investors Services LLC raised its position in Main Street Capital by 5.2% during the 2nd quarter. MML Investors Services LLC now owns 18,687 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 927 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

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.