Main Street Capital (NYSE:MAIN) Sets New 1-Year High at $42.40

Main Street Capital Co. (NYSE:MAIN) hit a new 52-week high during trading on Monday . The company traded as high as $42.40 and last traded at $42.40, with a volume of 730 shares changing hands. The stock had previously closed at $42.24.

A number of brokerages have commented on MAIN. Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Wednesday, March 3rd. Royal Bank of Canada increased their target price on Main Street Capital from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, March 4th. Truist increased their target price on Main Street Capital from $32.00 to $37.00 in a report on Friday, March 5th. Finally, Raymond James raised Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 target price on the stock in a report on Thursday, April 1st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $36.67.

The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $39.28 and a two-hundred day moving average of $33.63. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -73.81 and a beta of 1.42.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 25th. The financial services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Main Street Capital had a negative net margin of 15.34% and a positive return on equity of 9.71%. The company had revenue of $62.50 million for the quarter, compared to the consensus estimate of $54.94 million. Sell-side analysts forecast that Main Street Capital Co. will post 2.01 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be issued a dividend of $0.205 per share. This represents a $2.46 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Thursday, May 27th. Main Street Capital’s payout ratio is 98.40%.

In other news, SVP Jason B. Beauvais sold 4,841 shares of the company’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $39.04, for a total value of $188,992.64. Following the sale, the senior vice president now directly owns 136,423 shares of the company’s stock, valued at approximately $5,325,953.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jason B. Beauvais sold 4,573 shares of the company’s stock in a transaction on Wednesday, March 24th. The shares were sold at an average price of $38.18, for a total transaction of $174,597.14. Following the completion of the sale, the senior vice president now directly owns 136,423 shares in the company, valued at $5,208,630.14. The disclosure for this sale can be found here. Insiders own 5.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Aurora Private Wealth Inc. raised its holdings in shares of Main Street Capital by 2.0% in the first quarter. Aurora Private Wealth Inc. now owns 46,798 shares of the financial services provider’s stock valued at $1,832,000 after purchasing an additional 905 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in Main Street Capital by 165.7% during the 1st quarter. FNY Investment Advisers LLC now owns 5,313 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 3,313 shares during the period. Koshinski Asset Management Inc. bought a new stake in Main Street Capital during the 4th quarter valued at $586,000. SOA Wealth Advisors LLC. bought a new stake in Main Street Capital during the 4th quarter valued at $127,000. Finally, Childress Capital Advisors LLC bought a new stake in Main Street Capital during the 4th quarter valued at $13,672,000. Institutional investors own 19.46% of the company’s stock.

Main Street Capital Company Profile (NYSE:MAIN)

Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm also provides debt capital to middle market companies for acquisitions, management buyouts, growth financings, recapitalizations and refinancing. The firm seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.

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