Main Street Capital (NYSE:MAIN) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Main Street Capital Corporation (NYSE:MAIN)’s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $55.59 and traded as high as $55.95. Main Street Capital shares last traded at $55.8480, with a volume of 496,729 shares trading hands.

Wall Street Analysts Forecast Growth

MAIN has been the topic of a number of recent research reports. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Wells Fargo & Company upgraded shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $60.00 in a research report on Tuesday, September 29th. Weiss Ratings upgraded Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Truist Financial upped their price objective on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.00.

Main Street Capital Stock Performance

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 50-day moving average price of $55.71 and a two-hundred day moving average price of $55.56. The firm has a market cap of $5.17 billion, a PE ratio of 11.15 and a beta of 0.74.

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, topping 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. Research analysts forecast that Main Street Capital Corporation will post 3.75 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be given a dividend of $0.2650 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $3.18 annualized dividend and a dividend yield of 5.7%. Main Street Capital’s payout ratio is presently 64.11%.

Insider Activity

In other news, CAO Ryan Mchugh bought 2,550 shares of Main Street Capital stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $59.05 per share, with a total value of $150,577.50. Following the completion of the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

A number of hedge funds and other institutional investors have recently modified their holdings of MAIN. Sequoia Financial Advisors LLC lifted its position in shares of Main Street Capital by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 207 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Main Street Capital by 0.4% during the third quarter. Taylor Frigon Capital Management LLC now owns 50,955 shares of the financial services provider’s stock valued at $2,805,000 after purchasing an additional 227 shares during the last quarter. Uncommon Cents Investing Inc boosted its position in shares of Main Street Capital by 1.7% in the 3rd quarter. Uncommon Cents Investing Inc now owns 17,624 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 302 shares during the period. SteelPeak Wealth LLC boosted its position in shares of Main Street Capital by 6.3% in the 3rd quarter. SteelPeak Wealth LLC now owns 5,197 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 307 shares during the period. Finally, Hourglass Capital LLC increased its stake in Main Street Capital by 0.3% in the 3rd quarter. Hourglass Capital LLC now owns 122,050 shares of the financial services provider’s stock worth $6,719,000 after purchasing an additional 400 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

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.