Main Street Capital (NYSE:MAIN) Price Target Cut to $54.00 by Analysts at Truist Financial

Main Street Capital (NYSE:MAIN) had its target price lowered by Truist Financial from $62.00 to $54.00 in a research report released on Monday,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

Separately, UBS Group dropped their target price on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.00.

Main Street Capital Stock Up 1.7%

Shares of NYSE:MAIN opened at $53.87 on Monday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 9.76 and a beta of 0.86. Main Street Capital has a 1-year low of $45.00 and a 1-year high of $63.32. The company’s fifty day moving average is $54.64 and its two-hundred day moving average is $56.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $137.05 million for the quarter, compared to analysts’ expectations of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Equities analysts anticipate that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, September 8th. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) is 50.93%.

Insider Buying and Selling

In related news, insider David L. Magdol sold 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This trade represents a 20.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional Trading of Main Street Capital

A number of large investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Main Street Capital by 8.4% in the 4th quarter. US Bancorp DE now owns 2,579 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 200 shares during the period. PFG Investments LLC grew its position in Main Street Capital by 1.6% in the 4th quarter. PFG Investments LLC now owns 13,642 shares of the financial services provider’s stock valued at $799,000 after buying an additional 219 shares in the last quarter. Harbour Investments Inc. grew its position in Main Street Capital by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 3,512 shares of the financial services provider’s stock valued at $206,000 after buying an additional 228 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Main Street Capital by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 58,955 shares of the financial services provider’s stock valued at $3,454,000 after buying an additional 229 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its position in Main Street Capital by 1.4% in the 1st quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider’s stock valued at $917,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds 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.