Main Street Capital (NYSE:MAIN) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Main Street Capital Corporation (NYSE:MAIN)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $61.94 and traded as high as $64.05. Main Street Capital shares last traded at $63.87, with a volume of 389,425 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. B. Riley reduced their price objective on Main Street Capital from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Truist Financial reduced their price target on Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Noble Financial reissued a “neutral” rating on shares of Main Street Capital in a research note on Thursday, January 15th. Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Finally, Royal Bank Of Canada reduced their price objective on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Main Street Capital has a consensus rating of “Hold” and an average target price of $62.75.

Main Street Capital Stock Performance

The company’s 50-day moving average price is $60.57 and its two-hundred day moving average price is $61.94. The company has a market cap of $5.72 billion, a P/E ratio of 10.59 and a beta of 0.80. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.09). The business had revenue of $151.23 million during the quarter, compared to the consensus estimate of $140.53 million. Main Street Capital had a return on equity of 12.39% and a net margin of 95.59%. As a group, equities analysts forecast that Main Street Capital Corporation 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 Friday, March 13th. Stockholders of record on Friday, March 6th will be given a dividend of $0.26 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, March 6th. Main Street Capital’s dividend payout ratio is 51.74%.

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds have recently modified their holdings of MAIN. Freedom Financial Partners LLC lifted its stake in Main Street Capital by 3.3% during the fourth quarter. Freedom Financial Partners LLC now owns 5,356 shares of the financial services provider’s stock valued at $323,000 after buying an additional 170 shares in the last quarter. Uncommon Cents Investing LLC raised its holdings in shares of Main Street Capital by 1.2% during the third quarter. Uncommon Cents Investing LLC now owns 16,627 shares of the financial services provider’s stock valued at $1,057,000 after acquiring an additional 190 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Main Street Capital by 1.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,889 shares of the financial services provider’s stock valued at $939,000 after acquiring an additional 193 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Main Street Capital by 2.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,916 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 198 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in Main Street Capital by 5.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,127 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 212 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.