Oppenheimer Lowers Main Street Capital (NYSE:MAIN) Price Target to $53.00

Main Street Capital (NYSE:MAIN) had its price target lowered by stock analysts at Oppenheimer from $58.00 to $53.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Oppenheimer’s price objective suggests a potential downside of 0.09% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. UBS Group dropped their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Truist Financial dropped their price target on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research report on Monday. 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 has a consensus rating of “Hold” and a consensus target price of $52.80.

Main Street Capital Stock Down 1.7%

Main Street Capital stock opened at $53.05 on Tuesday. Main Street Capital has a fifty-two week low of $45.00 and a fifty-two week high of $63.32. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 9.61 and a beta of 0.86. The stock’s fifty day moving average is $54.57 and its two-hundred day moving average is $56.32. 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 quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million for the quarter, compared to analysts’ expectations of $137.50 million. Analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Activity at Main Street Capital

In related news, 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 transaction, the chief executive officer now directly owns 402,371 shares in the company, valued at approximately $23,357,636.55. This represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new stake in shares of Main Street Capital during the 4th quarter worth about $29,000. Financial Network Wealth Advisors LLC acquired a new position in Main Street Capital during the first quarter valued at approximately $39,000. Spire Wealth Management purchased a new stake in Main Street Capital during the first quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new stake in Main Street Capital during the first quarter worth approximately $41,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Main Street Capital in the fourth quarter worth $45,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.