Brokerages Set Main Street Capital Corporation (NYSE:MAIN) Target Price at $59.14

Main Street Capital Corporation (NYSE:MAIN) has received an average rating of “Hold” from the eleven analysts that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $59.1429.

Several equities research analysts recently commented on the company. Wells Fargo & Company assumed coverage on Main Street Capital in a report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price target for the company. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Truist Financial lowered their price objective on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Citizens Jmp lowered their price objective on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada lowered their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MAIN. Van ECK Associates Corp grew its position in Main Street Capital by 100.9% in the third quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock worth $155,681,000 after acquiring an additional 1,229,863 shares during the period. Corient Private Wealth LLC boosted its position in shares of Main Street Capital by 3,880.8% during the fourth quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after buying an additional 868,092 shares during the period. UBS Group AG boosted its position in shares of Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after buying an additional 534,374 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Main Street Capital by 637.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock worth $21,547,000 after buying an additional 308,404 shares during the period. Finally, Childress Capital Advisors LLC boosted its position in shares of Main Street Capital by 165.2% during the fourth quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock worth $17,739,000 after buying an additional 182,973 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $51.26 on Friday. The business has a 50 day simple moving average of $53.43 and a two-hundred day simple moving average of $57.63. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $67.77. The stock has a market capitalization of $4.77 billion, a P/E ratio of 10.79 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The firm had revenue of $73.44 million for the quarter, compared to analyst estimates of $145.23 million. As a group, analysts predict that Main Street Capital will post 3.96 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a $0.265 dividend. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio is presently 65.68%.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.