Brokerages Set Main Street Capital Co. (NYSE:MAIN) Price Target at $52.80

Shares of Main Street Capital Co. (NYSE:MAIN) have received a consensus rating of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.80.

A number of equities analysts recently weighed in on MAIN shares. Oppenheimer reaffirmed a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Truist Financial lowered their price objective on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research report on Monday, May 12th. Finally, UBS Group lowered 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 report on Thursday, April 17th.

Insiders Place Their Bets

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David L. Magdol sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds have recently added to or reduced their stakes in MAIN. Asset Planning Inc acquired a new stake in shares of Main Street Capital in the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Main Street Capital in the 1st quarter valued at $39,000. Spire Wealth Management acquired a new stake in shares of Main Street Capital in the 1st quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital in the 1st quarter valued at $41,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Main Street Capital in the 4th quarter valued at $45,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

Main Street Capital stock opened at $57.53 on Friday. The firm has a 50 day simple moving average of $54.11 and a 200-day simple moving average of $56.81. Main Street Capital has a 1-year low of $45.00 and a 1-year high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 10.42 and a beta of 0.82.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $137.05 million during the quarter, compared to analysts’ expectations of $137.50 million. On average, analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.06 dividend on an annualized basis and a yield of 5.32%. Main Street Capital’s dividend payout ratio is 50.93%.

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.