Main Street Capital (NYSE:MAIN) Stock Price Up 0.7%

Main Street Capital Co. (NYSE:MAIN) shot up 0.7% on Tuesday . The company traded as high as $48.59 and last traded at $48.51. 72,364 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 352,169 shares. The stock had previously closed at $48.16.

Wall Street Analysts Forecast Growth

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

Main Street Capital Stock Performance

The firm has a market cap of $4.15 billion, a P/E ratio of 9.35 and a beta of 1.29. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $46.43 and its two-hundred day moving average is $43.69.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $125.52 million. As a group, equities analysts predict that Main Street Capital Co. will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

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

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently modified their holdings of MAIN. Sanders Morris Harris LLC purchased a new stake in shares of Main Street Capital during the 1st quarter worth approximately $9,889,000. Tudor Investment Corp Et Al purchased a new stake in shares of Main Street Capital during the 3rd quarter worth approximately $6,538,000. First Financial Bankshares Inc purchased a new stake in shares of Main Street Capital during the 4th quarter worth approximately $6,122,000. Confluence Investment Management LLC purchased a new stake in shares of Main Street Capital during the 1st quarter worth approximately $6,110,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Main Street Capital during the 4th quarter worth approximately $4,884,000. Institutional investors own 20.31% of the company’s stock.

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.