Main Street Capital (NYSE:MAIN) Shares Down 0.1%

Main Street Capital Co. (NYSE:MAIN)’s share price traded down 0.1% during mid-day trading on Wednesday . The company traded as low as $50.60 and last traded at $50.64. 87,893 shares changed hands during trading, a decline of 75% from the average session volume of 347,065 shares. The stock had previously closed at $50.70.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAIN. Oppenheimer boosted their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. Royal Bank of Canada increased their price target on Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Truist Financial lifted their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Finally, UBS Group raised their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and an average price target of $46.17.

Main Street Capital Price Performance

The company’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $44.35. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 9.70 and a beta of 1.25.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. On average, equities research analysts forecast that Main Street Capital Co. will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 8th will be given a $0.245 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Monday, July 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.24. Main Street Capital’s payout ratio is currently 55.17%.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently modified their holdings of the stock. Paradiem LLC grew its position in shares of Main Street Capital by 53.5% in the 4th quarter. Paradiem LLC now owns 183,490 shares of the financial services provider’s stock valued at $7,932,000 after acquiring an additional 63,928 shares during the period. DNB Asset Management AS grew its holdings in Main Street Capital by 71.7% during the fourth quarter. DNB Asset Management AS now owns 87,406 shares of the financial services provider’s stock worth $3,779,000 after purchasing an additional 36,498 shares during the period. Van ECK Associates Corp increased its position in Main Street Capital by 12.4% during the third quarter. Van ECK Associates Corp now owns 805,063 shares of the financial services provider’s stock worth $32,709,000 after buying an additional 88,802 shares during the last quarter. SMH Capital Advisors Inc. bought a new stake in Main Street Capital in the third quarter valued at approximately $738,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $4,884,000. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.