Main Street Capital (NYSE:MAIN) Trading 0.8% Higher After Analyst Upgrade

Main Street Capital Co. (NYSE:MAIN) shares were up 0.8% on Wednesday after Royal Bank of Canada raised their price target on the stock from $48.00 to $52.00. Royal Bank of Canada currently has an outperform rating on the stock. Main Street Capital traded as high as $50.11 and last traded at $50.00. Approximately 126,090 shares traded hands during trading, a decline of 64% from the average daily volume of 347,645 shares. The stock had previously closed at $49.60.

A number of other brokerages also recently commented on MAIN. Truist Financial raised their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Monday, February 26th. UBS Group lifted their target price 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. B. Riley cut shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, January 8th. Finally, Oppenheimer lifted their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.17.

Institutional Trading of Main Street Capital

Institutional investors have recently made changes to their positions in the stock. Wambolt & Associates LLC lifted its position in shares of Main Street Capital by 17.6% in the 1st quarter. Wambolt & Associates LLC now owns 79,392 shares of the financial services provider’s stock valued at $3,725,000 after acquiring an additional 11,889 shares in the last quarter. Private Advisor Group LLC increased its stake in Main Street Capital by 9.8% in the 1st quarter. Private Advisor Group LLC now owns 118,278 shares of the financial services provider’s stock valued at $5,596,000 after buying an additional 10,543 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Main Street Capital by 9.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 13,766 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 1,149 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Main Street Capital by 13.9% during the 1st quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after purchasing an additional 122,757 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its stake in shares of Main Street Capital by 7.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,320 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 550 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The company’s 50 day moving average price is $46.78 and its 200 day moving average price is $43.98. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 9.58 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last issued its quarterly 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. The firm had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. Research analysts anticipate that Main Street Capital Co. will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were given a dividend of $0.30 per share. The ex-dividend date 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 55.17%.

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.