Main Street Capital (NYSE:MAIN) Reaches New 1-Year Low – What’s Next?

Main Street Capital Corporation (NYSE:MAIN) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $50.30 and last traded at $50.2680, with a volume of 309319 shares. The stock had previously closed at $51.01.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MAIN shares. Citigroup reissued an “outperform” rating on shares of Main Street Capital in a report on Tuesday, January 27th. Royal Bank Of Canada reduced their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday. Weiss Ratings downgraded shares of Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Citizens Jmp reduced their price objective on shares of 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, Wall Street Zen downgraded shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.83.

Main Street Capital Stock Performance

The stock’s 50-day moving average is $54.43 and its 200 day moving average is $58.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 10.61 and a beta of 0.76.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (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 company 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 Corporation will post 4.02 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is presently 65.68%.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Main Street Capital by 90.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock worth $24,320,000 after purchasing an additional 181,733 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Main Street Capital by 5,556.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,144 shares of the financial services provider’s stock worth $2,298,000 after purchasing an additional 35,505 shares during the last quarter. Childress Capital Advisors LLC raised its position in shares of Main Street Capital by 165.2% during the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock worth $17,739,000 after purchasing an additional 182,973 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Main Street Capital during the 4th quarter worth approximately $304,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Main Street Capital during the 3rd quarter worth approximately $1,250,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

About Main Street Capital

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.