Main Street Capital (NYSE:MAIN) Hits New 1-Year High at $49.60

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $49.60 and last traded at $49.53, with a volume of 44964 shares trading hands. The stock had previously closed at $49.13.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MAIN. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Royal Bank of Canada increased their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Truist Financial increased their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, February 26th. Oppenheimer raised their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Finally, B. Riley lowered shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.50.

Main Street Capital Trading Up 0.8 %

The company’s 50 day moving average price is $46.59 and its 200 day moving average price is $43.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $4.21 billion, a PE ratio of 9.53 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. As a group, analysts forecast that Main Street Capital Co. will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were given a dividend of $0.30 per share. This represents a yield of 8.37%. The ex-dividend date of this dividend was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s dividend payout ratio is 55.17%.

Hedge Funds Weigh In On Main Street Capital

Several large investors have recently added to or reduced their stakes in the company. LifeSteps Financial Inc. acquired a new stake in Main Street Capital during the 1st quarter worth about $35,000. Nomura Asset Management Co. Ltd. boosted its stake in Main Street Capital by 73.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares in the last quarter. Signaturefd LLC boosted its stake in Main Street Capital by 157.9% in the third quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 747 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Main Street Capital by 23.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,744 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 335 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Main Street Capital during the fourth quarter valued at $72,000. 20.31% of the stock is currently owned by institutional investors.

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.