Main Street Capital (NYSE:MAIN) Given New $64.00 Price Target at B. Riley

Main Street Capital (NYSE:MAIN) had its target price lifted by B. Riley from $60.00 to $64.00 in a research note released on Monday morning, Marketbeat Ratings reports. They currently have a neutral rating on the financial services provider’s stock.

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

Main Street Capital Trading Down 0.7%

Shares of NYSE:MAIN opened at $65.64 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a market cap of $5.87 billion, a PE ratio of 10.81 and a beta of 0.85. The business has a 50 day moving average of $62.27 and a 200-day moving average of $58.50. Main Street Capital has a 12-month low of $47.00 and a 12-month high of $67.77.

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

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.255 per share. The ex-dividend date is Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 4.7%. Main Street Capital’s dividend payout ratio is 50.41%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Main Street Capital

Institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its position in Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock valued at $33,405,000 after acquiring an additional 589,307 shares during the last quarter. Invesco Ltd. grew its position in shares of Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after purchasing an additional 393,101 shares during the period. HRT Financial LP grew its position in shares of Main Street Capital by 147.7% in the second quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock valued at $12,613,000 after purchasing an additional 127,270 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Main Street Capital in the first quarter worth about $6,205,000. Finally, First Trust Advisors LP purchased a new position in Main Street Capital during the fourth quarter worth about $6,059,000. Institutional investors 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.