Main Street Capital (NYSE:MAIN) Stock Price Expected to Rise, UBS Group Analyst Says

Main Street Capital (NYSE:MAIN) had its target price upped by equities researchers at UBS Group from $57.00 to $58.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group‘s price objective would suggest a potential upside of 1.35% from the company’s current price.

Several other equities analysts also recently commented on the company. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Wells Fargo & Company raised shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Tuesday, September 29th. Truist Financial raised their price objective on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings upgraded Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Main Street Capital has a consensus rating of “Hold” and a consensus price target of $61.14.

Main Street Capital Stock Performance

Shares of Main Street Capital stock traded up $0.21 on Monday, reaching $57.23. The stock had a trading volume of 463,496 shares, compared to its average volume of 639,198. The stock has a market cap of $5.35 billion, a P/E ratio of 11.85 and a beta of 0.73. The business’s 50-day moving average price is $55.53 and its two-hundred day moving average price is $55.41. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $65.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, November 5th. The financial services provider reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.03). The business had revenue of $142.53 million for the quarter, compared to the consensus estimate of $145.67 million. Main Street Capital had a net margin of 76.98% and a return on equity of 11.56%. On average, sell-side analysts forecast that Main Street Capital will post 3.75 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors have recently modified their holdings of the business. Sequoia Financial Advisors LLC grew its holdings in shares of Main Street Capital by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 207 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Main Street Capital by 0.4% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 50,955 shares of the financial services provider’s stock worth $2,805,000 after purchasing an additional 227 shares in the last quarter. Moors & Cabot Inc. boosted its stake in Main Street Capital by 4.9% during the 3rd quarter. Moors & Cabot Inc. now owns 5,873 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 273 shares during the last quarter. Uncommon Cents Investing Inc boosted its holdings in Main Street Capital by 1.7% during the third quarter. Uncommon Cents Investing Inc now owns 17,624 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 302 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its position in shares of Main Street Capital by 6.3% during the 3rd quarter. SteelPeak Wealth LLC now owns 5,197 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 307 shares during 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 that provides customized debt and equity financing to privately held businesses. It focuses on lower middle market companies and also invests in debt securities issued by middle market businesses.

The company’s financing can support business growth, acquisitions, recapitalizations, and management buyouts. Main Street generally works directly with portfolio companies and their owners, offering capital structures tailored to each business’s needs.

Founded in 2007 and headquartered in Houston, Texas, Main Street primarily serves businesses in the United States.