Main Street Capital (NYSE:MAIN) Price Target Cut to $53.00 by Analysts at Oppenheimer

Main Street Capital (NYSE:MAIN) had its target price trimmed by Oppenheimer from $58.00 to $53.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

MAIN has been the subject of a number of other reports. UBS Group cut their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Truist Financial lowered their price target on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.80.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $53.93 on Tuesday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 9.77 and a beta of 0.86. The stock has a 50 day simple moving average of $54.64 and a 200-day simple moving average of $56.33. 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.

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

Main Street Capital Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.67%. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio is currently 50.93%.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now owns 377,182 shares in the company, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 402,371 shares in the company, valued at approximately $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Main Street Capital

Large investors have recently bought and sold shares of the stock. Asset Planning Inc acquired a new stake in Main Street Capital during the 4th quarter valued at $29,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Main Street Capital during the first quarter worth $39,000. Spire Wealth Management acquired a new stake in shares of Main Street Capital during the first quarter worth $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital during the first quarter worth $41,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Main Street Capital during the fourth quarter worth $45,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

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.