Main Street Capital (NYSE:MAIN) Sees Strong Trading Volume – Time to Buy?

Main Street Capital Corporation (NYSE:MAIN) shares saw unusually-strong trading volume on Monday . Approximately 971,203 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 635,845 shares.The stock last traded at $55.1760 and had previously closed at $54.89.

Wall Street Analysts Forecast Growth

MAIN has been the subject of a number of research reports. Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Noble Financial reiterated a “neutral” rating on shares of Main Street Capital in a research note on Thursday, January 15th. Citizens Jmp set a $70.00 price objective on shares of Main Street Capital in a research report on Monday, December 8th. Royal Bank Of Canada reduced their price objective on Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, December 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.71.

Main Street Capital Stock Up 1.3%

The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 10.11 and a beta of 0.80. The firm’s 50 day simple moving average is $60.23 and its two-hundred day simple moving average is $60.49.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. The firm had revenue of $156.17 million for the quarter, compared to analyst estimates of $141.50 million. On average, equities analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. Main Street Capital’s dividend payout ratio is currently 56.52%.

Hedge Funds Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest 10 Wealth Builders Inc. acquired a new stake in shares of Main Street Capital during the 3rd quarter worth $25,000. City Holding Co. acquired a new position in Main Street Capital in the third quarter valued at about $26,000. Garner Asset Management Corp bought a new stake in Main Street Capital during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC lifted its position in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. Finally, Sankala Group LLC acquired a new stake in Main Street Capital during the fourth quarter worth about $29,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.