Main Street Capital Corporation (NYSE:MAIN) Stock Has Average Price Target of $60.83 According to Analysts

Main Street Capital Corporation (NYSE:MAIN) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $61.67.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $55.00 to $60.00 in a research report on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Weiss Ratings raised Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 3rd. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Truist Financial raised their price objective on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a report on Monday, August 10th.

Insider Activity at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh bought 2,550 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $59.05 per share, with a total value of $150,577.50. Following the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at $1,337,305.35. This trade represents a 12.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Main Street Capital

Large investors have recently made changes to their positions in the stock. CX Institutional acquired a new position in Main Street Capital in the third quarter valued at approximately $65,000. Confluence Investment Management LLC increased its stake in Main Street Capital by 2.7% during the third quarter. Confluence Investment Management LLC now owns 96,050 shares of the financial services provider’s stock worth $5,288,000 after acquiring an additional 2,564 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Main Street Capital by 8.9% during the second quarter. Sequoia Financial Advisors LLC now owns 6,691 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 549 shares during the last quarter. NewEdge Advisors LLC raised its position in Main Street Capital by 8.3% in the second quarter. NewEdge Advisors LLC now owns 44,558 shares of the financial services provider’s stock valued at $2,312,000 after purchasing an additional 3,415 shares during the period. Finally, Squarepoint Ops LLC raised its position in Main Street Capital by 57.4% in the second quarter. Squarepoint Ops LLC now owns 38,187 shares of the financial services provider’s stock valued at $1,981,000 after purchasing an additional 13,932 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Stock Down 1.0%

MAIN opened at $55.12 on Friday. The company has a market cap of $5.15 billion, a PE ratio of 11.11 and a beta of 0.74. Main Street Capital has a twelve month low of $48.95 and a twelve month high of $65.23. The company has a 50-day moving average price of $56.91 and a 200 day moving average price of $54.27. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The company had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. Sell-side analysts expect that Main Street Capital will post 3.77 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a $0.2650 dividend. This represents a $3.18 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s dividend payout ratio is 64.11%.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company primarily supports lower middle market companies, as well as certain middle market businesses, that may require capital for growth, acquisitions, recapitalizations, refinancings, or ownership transitions.

Main Street typically invests in the form of secured debt, subordinated debt, equity investments, and warrants. Its lower middle market investments are often made in partnership with company owners and management teams, while its middle market activities generally involve providing longer-term debt capital to established businesses.