Brokerages Set Main Street Capital Corporation (NYSE:MAIN) Target Price at $61.20

Main Street Capital Corporation (NYSE:MAIN) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $61.20.

Several research analysts recently issued reports on the stock. UBS Group reissued a “neutral” rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their target price on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Truist Financial boosted their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Finally, Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th.

Insider Activity

In other news, EVP Jason B. Beauvais sold 13,664 shares of the firm’s stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the sale, the executive vice president owned 181,526 shares of the company’s stock, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares of the company’s stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after buying an additional 250 shares in the last quarter. Financial Network Wealth Advisors LLC acquired a new position in shares of Main Street Capital during the first quarter worth approximately $39,000. Spire Wealth Management bought a new stake in shares of Main Street Capital during the first quarter valued at approximately $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital in the first quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in Main Street Capital in the 1st quarter worth approximately $48,000. 20.31% of the stock is owned by institutional investors.

Main Street Capital Stock Down 2.3%

Shares of MAIN stock opened at $64.26 on Tuesday. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day moving average price of $65.36 and a 200 day moving average price of $59.39. The stock has a market cap of $5.75 billion, a P/E ratio of 10.59 and a beta of 0.88.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. The company had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 8th will be given a $0.30 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. Main Street Capital’s payout ratio is 50.41%.

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.