Main Street Capital Co. (NYSE:MAIN – Get Free Report) shot up 0.5% on Tuesday . The company traded as high as $48.99 and last traded at $48.97. 79,168 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 357,539 shares. The stock had previously closed at $48.74.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on MAIN. Royal Bank of Canada upped their target price on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. B. Riley boosted their price target on shares of Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Truist Financial boosted their price target on shares of Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Finally, Oppenheimer upped their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus target price of $47.67.
Main Street Capital Price Performance
The business’s 50 day moving average is $47.93 and its 200-day moving average is $45.03. The firm has a market capitalization of $4.20 billion, a P/E ratio of 8.94 and a beta of 1.25. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11.
Main Street Capital (NYSE:MAIN – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $131.61 million for the quarter, compared to analysts’ expectations of $128.00 million. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. During the same period last year, the firm posted $1.02 earnings per share. As a group, sell-side analysts predict that Main Street Capital Co. will post 4.06 EPS for the current fiscal year.
Main Street Capital Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.245 per share. The ex-dividend date is Friday, September 6th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 6.00%. Main Street Capital’s payout ratio is presently 52.55%.
Institutional Trading of Main Street Capital
A number of hedge funds and other institutional investors have recently modified their holdings of MAIN. Sanders Morris Harris LLC acquired a new position in shares of Main Street Capital during the first quarter worth $9,889,000. Tudor Investment Corp Et Al acquired a new position in shares of Main Street Capital during the third quarter worth $6,538,000. First Financial Bankshares Inc acquired a new position in shares of Main Street Capital during the fourth quarter worth $6,122,000. Confluence Investment Management LLC acquired a new position in shares of Main Street Capital during the first quarter worth $6,110,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Main Street Capital by 13.9% during the first quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after purchasing an additional 122,757 shares during the period. 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.