Brokerages Set Main Street Capital Corporation (NYSE:MAIN) Price Target at $59.33

Shares of Main Street Capital Corporation (NYSE:MAIN) have received a consensus recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $60.8333.

Several equities analysts have recently weighed in on MAIN shares. Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a report on Monday. Royal Bank Of Canada decreased 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, May 14th. Finally, Truist Financial increased their target price on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the transaction, the executive vice president owned 196,185 shares in the company, valued at approximately $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brighton Jones LLC acquired a new stake in Main Street Capital in the 4th quarter valued at $304,000. NewEdge Advisors LLC increased its holdings in Main Street Capital by 5,416.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 1,625 shares in the last quarter. Guggenheim Capital LLC raised its position in Main Street Capital by 4.8% during the second quarter. Guggenheim Capital LLC now owns 12,492 shares of the financial services provider’s stock worth $738,000 after acquiring an additional 570 shares during the period. First Trust Advisors LP raised its position in Main Street Capital by 2.3% during the second quarter. First Trust Advisors LP now owns 188,296 shares of the financial services provider’s stock worth $11,128,000 after acquiring an additional 4,317 shares during the period. Finally, Jump Financial LLC purchased a new position in Main Street Capital during the second quarter valued at $228,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Up 1.1%

Shares of MAIN opened at $59.16 on Friday. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 11.93 and a beta of 0.71. Main Street Capital has a 52 week low of $48.95 and a 52 week high of $67.77. The stock’s 50-day moving average price is $53.37 and its 200-day moving average price is $54.88. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Main Street Capital had a return on equity of 11.95% and a net margin of 78.49%.The company had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. On average, sell-side analysts predict that Main Street Capital will post 3.78 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a yield of 5.4%. Main Street Capital’s dividend payout ratio is presently 64.11%.

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.