Citizens Jmp Begins Coverage on Main Street Capital (NYSE:MAIN)

Equities researchers at Citizens Jmp initiated coverage on shares of Main Street Capital (NYSE:MAIN) in a report issued on Monday, Marketbeat reports. The brokerage set a “market outperform” rating and a $70.00 price target on the financial services provider’s stock. Citizens Jmp’s price target would suggest a potential upside of 11.93% from the company’s previous close.

Several other research analysts have also recently weighed in on MAIN. Truist Financial decreased their target price on Main Street Capital from $64.00 to $60.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Citigroup assumed coverage on shares of Main Street Capital in a research report on Monday. They set an “outperform” rating for the company. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. JMP Securities set a $70.00 target price on shares of Main Street Capital in a research note on Monday. Finally, Royal Bank Of Canada raised their target price on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.43.

Main Street Capital Price Performance

NYSE MAIN opened at $62.54 on Monday. The firm has a market capitalization of $5.60 billion, a PE ratio of 10.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The company’s 50 day simple moving average is $58.46 and its 200 day simple moving average is $61.16.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.09). Main Street Capital had a net margin of 95.59% and a return on equity of 12.39%. The firm had revenue of $151.23 million for the quarter, compared to the consensus estimate of $140.53 million. As a group, equities research analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest 10 Wealth Builders Inc. purchased a new stake in shares of Main Street Capital in the third quarter valued at $25,000. City Holding Co. acquired a new position in Main Street Capital during the third quarter valued at $26,000. Smartleaf Asset Management LLC raised its position in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after buying an additional 250 shares during the period. Assetmark Inc. lifted its stake in Main Street Capital by 203.0% in the 3rd quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 339 shares in the last quarter. Finally, Archer Investment Corp boosted its position in Main Street Capital by 134.5% during the 3rd quarter. Archer Investment Corp now owns 544 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 312 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

About Main Street Capital

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.