Main Street Capital (NYSE:MAIN) Reaches New 1-Year High at $50.70

Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $50.70 and last traded at $50.70, with a volume of 2619 shares traded. The stock had previously closed at $50.37.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MAIN shares. B. Riley lowered shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, January 8th. UBS Group raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Royal Bank of Canada raised their price objective on Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Oppenheimer increased their target price on 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. Finally, Truist Financial lifted their price target on Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Main Street Capital has a consensus rating of “Hold” and an average target price of $46.17.

Main Street Capital Stock Performance

The firm has a market capitalization of $4.32 billion, a PE ratio of 9.71 and a beta of 1.25. 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 business’s 50 day simple moving average is $47.07 and its two-hundred day simple moving average is $44.19.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. Research analysts expect that Main Street Capital Co. will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

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

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAIN. LifeSteps Financial Inc. purchased a new stake in shares of Main Street Capital during the first quarter worth about $35,000. Nomura Asset Management Co. Ltd. raised its position in shares of Main Street Capital by 73.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock valued at $49,000 after buying an additional 483 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Main Street Capital by 157.9% in the 3rd quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 747 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Main Street Capital in the fourth quarter worth about $72,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Main Street Capital by 32.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,733 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 420 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other 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.