Main Street Capital Corporation (NYSE:MAIN) Stock Has Average Price Target of $61.00 According to Analysts

Main Street Capital Corporation (NYSE:MAIN) has earned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $61.00.

A number of research firms have commented on MAIN. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Truist Financial increased their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. UBS Group cut their target price on shares of Main Street Capital from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, October 9th. Finally, Wells Fargo & Company upgraded shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $55.00 to $60.00 in a research note on Tuesday, September 29th.

Insider Activity at Main Street Capital

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. Insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Uncommon Cents Investing Inc boosted its position in Main Street Capital by 1.7% during the 3rd quarter. Uncommon Cents Investing Inc now owns 17,624 shares of the financial services provider’s stock worth $970,000 after buying an additional 302 shares during the period. SteelPeak Wealth LLC raised its stake in shares of Main Street Capital by 6.3% during the third quarter. SteelPeak Wealth LLC now owns 5,197 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 307 shares during the last quarter. Triumph Capital Management grew its stake in shares of Main Street Capital by 8.0% in the third quarter. Triumph Capital Management now owns 12,685 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 944 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Main Street Capital by 6.5% during the 3rd quarter. Focus Financial Network Inc. now owns 49,805 shares of the financial services provider’s stock worth $2,742,000 after purchasing an additional 3,054 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Main Street Capital by 9.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 29,544 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 2,631 shares during the period. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $53.41 on Wednesday. The company’s fifty day simple moving average is $56.37 and its 200-day simple moving average is $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. The firm has a market cap of $4.99 billion, a PE ratio of 10.77 and a beta of 0.74. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $65.23.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating 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 firm had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Equities research analysts expect that Main Street Capital will post 3.75 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a $0.2650 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $3.18 dividend on an annualized basis and a yield of 6.0%. Main Street Capital’s payout ratio is currently 64.11%.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.