Main Street Capital (NYSE:MAIN) Given New $58.00 Price Target at UBS Group

Main Street Capital (NYSE:MAIN) had its price objective boosted by equities research analysts at UBS Group from $57.00 to $58.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. UBS Group‘s price objective would suggest a potential upside of 1.35% from the company’s current price.

A number of other research firms have also issued reports on MAIN. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a report on Monday, August 10th. Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company raised shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $60.00 in a report on Tuesday, September 29th. Finally, Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.14.

Main Street Capital Trading Up 0.4%

Shares of NYSE:MAIN traded up $0.21 during midday trading on Monday, reaching $57.23. 463,496 shares of the company’s stock were exchanged, compared to its average volume of 639,198. The firm’s 50 day simple moving average is $55.53 and its two-hundred day simple moving average is $55.41. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 11.85 and a beta of 0.73. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $65.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.03). Main Street Capital had a return on equity of 11.56% and a net margin of 76.98%. The company had revenue of $142.53 million during the quarter, compared to analyst estimates of $145.67 million. As a group, sell-side analysts forecast that Main Street Capital will post 3.75 EPS for the current fiscal year.

Insider Buying and Selling at Main Street Capital

In other news, CAO Ryan Mchugh purchased 2,550 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the purchase, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of Main Street Capital during the second quarter worth about $43,323,000. BlackRock Inc. bought a new position in shares of Main Street Capital during the second quarter valued at approximately $20,940,000. Bank of America Corp DE bought a new stake in Main Street Capital in the 2nd quarter valued at about $6,094,000. Beacon Pointe Advisors LLC bought a new position in Main Street Capital in the 2nd quarter worth approximately $5,665,000. Finally, Fund Advisors of America Inc FL bought a new stake in Main Street Capital during the 2nd quarter valued at $2,996,000. 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 that provides customized debt and equity financing to privately held businesses. It focuses on lower middle market companies and also invests in debt securities issued by middle market businesses.

The company’s financing can support business growth, acquisitions, recapitalizations, and management buyouts. Main Street generally works directly with portfolio companies and their owners, offering capital structures tailored to each business’s needs.

Founded in 2007 and headquartered in Houston, Texas, Main Street primarily serves businesses in the United States.