Main Street Capital (NYSE:MAIN) Sees Strong Trading Volume

Main Street Capital Co. (NYSE:MAIN) saw strong trading volume on Monday . 562,651 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 361,454 shares.The stock last traded at $47.00 and had previously closed at $49.32.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial lifted their price objective on Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, May 13th. B. Riley upped their price target on Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, 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. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.20.

Main Street Capital Price Performance

The firm has a 50 day moving average of $50.18 and a two-hundred day moving average of $48.08. The company has a market cap of $4.19 billion, a PE ratio of 8.93 and a beta of 1.29. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $131.61 million during the quarter, compared to the consensus estimate of $128.00 million. Main Street Capital had a return on equity of 14.83% and a net margin of 89.11%. During the same period last year, the company earned $1.02 earnings per share. Research analysts predict that Main Street Capital Co. will post 4.08 earnings per share for the current fiscal year.

Main Street Capital Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be issued a dividend of $0.245 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend is Tuesday, October 8th. Main Street Capital’s payout ratio is 53.65%.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Callahan Advisors LLC increased its holdings in Main Street Capital by 1.3% in the 2nd quarter. Callahan Advisors LLC now owns 15,429 shares of the financial services provider’s stock worth $779,000 after buying an additional 200 shares in the last quarter. PFG Investments LLC grew its stake in shares of Main Street Capital by 1.8% in the second quarter. PFG Investments LLC now owns 12,557 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 227 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of Main Street Capital by 0.6% during the first quarter. Taylor Frigon Capital Management LLC now owns 40,320 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 232 shares during the last quarter. NBC Securities Inc. lifted its position in Main Street Capital by 6.7% during the fourth quarter. NBC Securities Inc. now owns 3,686 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 233 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Main Street Capital by 4.7% in the first quarter. Global Retirement Partners LLC now owns 5,211 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

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.