Main Street Capital Corporation (NYSE:MAIN) Receives $62.75 Average Price Target from Brokerages

Shares of Main Street Capital Corporation (NYSE:MAIN) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $62.75.

A number of research analysts recently commented on the stock. Truist Financial decreased their price target on shares of Main Street Capital from $64.00 to $60.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b+)” rating on shares of Main Street Capital in a report on Monday, December 22nd. Noble Financial reiterated a “neutral” rating on shares of Main Street Capital in a report on Thursday, January 15th. Citigroup started coverage on shares of Main Street Capital in a research note on Monday, December 8th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada decreased their price objective on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Tuesday, December 9th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC purchased a new stake in shares of Main Street Capital during the 4th quarter valued at $304,000. NewEdge Advisors LLC lifted its position in Main Street Capital by 5,416.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 1,625 shares during the period. Park Avenue Securities LLC grew its stake in shares of Main Street Capital by 17.9% in the 2nd quarter. Park Avenue Securities LLC now owns 8,470 shares of the financial services provider’s stock worth $501,000 after buying an additional 1,284 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in Main Street Capital by 8.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 139,452 shares of the financial services provider’s stock worth $8,242,000 after purchasing an additional 10,853 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in Main Street Capital by 71.2% during the 2nd quarter. AdvisorNet Financial Inc now owns 2,244 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Trading Down 0.2%

MAIN stock opened at $64.07 on Monday. Main Street Capital has a twelve month low of $47.00 and a twelve month high of $67.77. The business has a fifty day moving average of $60.44 and a 200-day moving average of $61.92. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.74 billion, a P/E ratio of 10.62 and a beta of 0.80.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.97 earnings per share 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 during the quarter, compared to analyst estimates of $140.53 million. As a group, equities research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.26 per share. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, March 6th. Main Street Capital’s payout ratio is currently 51.74%.

About Main Street Capital

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.