Main Street Capital (NYSE:MAIN) Trading Up 0.2%

Main Street Capital Co. (NYSE:MAIN)’s share price shot up 0.2% on Thursday . The stock traded as high as $47.14 and last traded at $47.06. 48,668 shares were traded during mid-day trading, a decline of 86% from the average session volume of 354,762 shares. The stock had previously closed at $46.96.

Analysts Set New Price Targets

Several research firms have weighed in on MAIN. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Truist Financial boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Royal Bank of Canada upped their price objective on shares of Main Street Capital from $46.00 to $48.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. B. Riley downgraded shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, January 8th. Finally, Oppenheimer upped their price objective on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.50.

Main Street Capital Price Performance

The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average is $46.18 and its 200-day moving average is $43.48. The company has a market cap of $4.05 billion, a PE ratio of 9.12 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The business had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. On average, equities analysts anticipate that Main Street Capital Co. will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. This represents a dividend yield of 8.37%. This is a positive change from Main Street Capital’s previous dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. Main Street Capital’s dividend payout ratio (DPR) is presently 55.17%.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently made changes to their positions in the business. Citigroup Inc. increased its position in shares of Main Street Capital by 945.9% during the third quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 577 shares in the last quarter. Impact Partnership Wealth LLC grew its position in Main Street Capital by 562.3% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,000 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 849 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Main Street Capital by 73.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares during the period. Signaturefd LLC grew its position in Main Street Capital by 157.9% in the 3rd quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 747 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in Main Street Capital in the 4th quarter worth approximately $55,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.