Main Street Capital (NYSE:MAIN) Price Target Raised to $64.00

Main Street Capital (NYSE:MAIN) had its target price upped by B. Riley from $60.00 to $64.00 in a report released on Monday morning, Marketbeat.com reports. B. Riley currently has a neutral rating on the financial services provider’s stock.

Several other analysts also recently issued reports on MAIN. Truist Financial lifted their target price on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, August 11th. UBS Group reissued a “neutral” rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.75.

Main Street Capital Stock Up 0.3%

NYSE MAIN opened at $65.4560 on Monday. The stock’s 50-day moving average price is $62.57 and its 200-day moving average price is $58.59. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77. The company has a market capitalization of $5.85 billion, a P/E ratio of 10.78 and a beta of 0.85.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. On average, equities research analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a c) dividend on an annualized basis and a yield of 4.7%. Main Street Capital’s payout ratio is presently 50.41%.

Insider Buying and Selling

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the sale, the executive vice president owned 181,526 shares of the company’s stock, valued at $10,777,198.62. The trade was a 7.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently modified their holdings of MAIN. Jones Financial Companies Lllp boosted its holdings in shares of Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after purchasing an additional 589,307 shares during the period. Invesco Ltd. boosted its holdings in shares of Main Street Capital by 282.5% in the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after purchasing an additional 393,101 shares during the period. HRT Financial LP boosted its holdings in shares of Main Street Capital by 147.7% in the 2nd quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock worth $12,613,000 after purchasing an additional 127,270 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Main Street Capital in the 1st quarter worth approximately $6,205,000. Finally, First Trust Advisors LP purchased a new position in shares of Main Street Capital in the 4th quarter worth approximately $6,059,000. Hedge funds and other institutional investors 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.