Truist Financial Issues Pessimistic Forecast for Main Street Capital (NYSE:MAIN) Stock Price

Main Street Capital (NYSE:MAIN) had its price target dropped by investment analysts at Truist Financial from $62.00 to $54.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 0.13% from the company’s previous close.

Separately, UBS Group reduced their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.80.

Main Street Capital Price Performance

Shares of MAIN stock opened at $53.93 on Monday. Main Street Capital has a 12 month low of $45.00 and a 12 month high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $54.64 and a two-hundred day moving average of $56.33. The company has a market capitalization of $4.78 billion, a P/E ratio of 9.77 and a beta of 0.86.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The firm had revenue of $137.05 million during the quarter, compared to analysts’ expectations of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, equities analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Insider Activity at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This trade represents a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after purchasing an additional 393,101 shares during the period. Raymond James Financial Inc. acquired a new stake in Main Street Capital during the 4th quarter worth about $10,460,000. Victory Capital Management Inc. acquired a new stake in Main Street Capital during the 1st quarter worth about $6,205,000. First Trust Advisors LP bought a new position in shares of Main Street Capital during the 4th quarter worth about $6,059,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Main Street Capital during the 4th quarter worth about $6,007,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.