Main Street Capital Corporation (NYSE:MAIN) Receives $61.20 Consensus PT from Brokerages

Main Street Capital Corporation (NYSE:MAIN) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $61.20.

Several analysts have weighed in on MAIN shares. Truist Financial raised their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a report on Monday, August 11th. Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. UBS Group reaffirmed a “neutral” rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley raised their price target on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Finally, Royal Bank Of Canada raised their price target on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 28th.

Main Street Capital Stock Performance

NYSE:MAIN opened at $56.53 on Friday. The business’s 50-day moving average price is $64.47 and its two-hundred day moving average price is $59.85. Main Street Capital has a twelve month low of $47.00 and a twelve month high of $67.77. The stock has a market cap of $5.06 billion, a P/E ratio of 9.31 and a beta of 0.87. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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 the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. As a group, equities analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. Main Street Capital’s dividend payout ratio is 50.41%.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total transaction 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 represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.09% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently bought and sold shares of MAIN. Jones Financial Companies Lllp grew its position in Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after acquiring an additional 589,307 shares during the last quarter. Invesco Ltd. grew its position in Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after acquiring an additional 393,101 shares during the last quarter. HRT Financial LP grew its position in Main Street Capital by 147.7% during the 2nd quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock worth $12,613,000 after acquiring an additional 127,270 shares during the last quarter. Victory Capital Management Inc. bought a new position in Main Street Capital during the 1st quarter worth approximately $6,205,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Main Street Capital in the 1st quarter worth approximately $4,840,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Company Profile

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.