Main Street Capital (NYSE:MAIN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Main Street Capital Corporation (NYSE:MAIN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $61.94 and traded as high as $64.05. Main Street Capital shares last traded at $63.87, with a volume of 389,425 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MAIN. Loop Capital upgraded Main Street Capital to a “neutral” rating and set a $65.00 price target on the stock in a report on Thursday, January 15th. Zacks Research downgraded Main Street Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Main Street Capital in a research note on Monday, December 22nd. B. Riley dropped their target price on Main Street Capital from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Finally, Noble Financial reissued a “neutral” rating on shares of Main Street Capital in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.75.

Main Street Capital Trading Down 0.3%

The company has a fifty day moving average price of $60.57 and a 200-day moving average price of $61.94. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 10.59 and a beta of 0.80. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Announces Dividend

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

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently bought and sold shares of the business. Freedom Financial Partners LLC raised its holdings in Main Street Capital by 3.3% during the fourth quarter. Freedom Financial Partners LLC now owns 5,356 shares of the financial services provider’s stock valued at $323,000 after buying an additional 170 shares in the last quarter. Uncommon Cents Investing LLC increased its holdings in shares of Main Street Capital by 1.2% during the 3rd quarter. Uncommon Cents Investing LLC now owns 16,627 shares of the financial services provider’s stock valued at $1,057,000 after acquiring an additional 190 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Main Street Capital by 1.2% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,889 shares of the financial services provider’s stock valued at $939,000 after acquiring an additional 193 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Main Street Capital by 2.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 9,916 shares of the financial services provider’s stock valued at $631,000 after acquiring an additional 198 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Main Street Capital by 5.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,127 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 212 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

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.