Main Street Capital Corporation (NYSE:MAIN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Main Street Capital Corporation has received an average rating of "Moderate Buy" from six research firms, with a twelve-month price target of $61.20.
• Recent trading saw Main Street Capital's stock decline by 2.7%, with shares opening at $65.19 and a market capitalization of $5.83 billion.
• The company declared a $0.30 dividend to be paid on September 26th, reflecting a dividend yield of 644.0% and a payout ratio of 50.41%.

Shares of Main Street Capital Corporation (NYSE:MAIN - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $61.20.

MAIN has been the topic of a number of research analyst reports. UBS Group restated a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price target on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. Truist Financial increased their price objective on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. B. Riley increased their price objective on Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th.

Main Street Capital Stock Down 2.7%

NYSE MAIN opened at $65.19 on Tuesday. The firm has a market cap of $5.83 billion, a PE ratio of 10.74 and a beta of 0.88. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The stock's 50 day simple moving average is $65.04 and its 200 day simple moving average is $59.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. The business had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, sell-side analysts forecast that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, September 26th. Stockholders of record on Monday, September 22nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a dividend yield of 644.0%. Main Street Capital's dividend payout ratio is 50.41%.

Insiders Place Their Bets

In other news, Director Nicholas Meserve sold 14,000 shares of the stock in a transaction 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 transaction, the director owned 82,383 shares of the company's stock, valued at $5,532,018.45. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares in the company, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.09% of the company's stock.

Institutional Trading of Main Street Capital

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its stake in Main Street Capital by 109.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock worth $28,000 after buying an additional 250 shares during the period. Financial Network Wealth Advisors LLC acquired a new stake in Main Street Capital during the 1st quarter worth $39,000. Spire Wealth Management acquired a new stake in Main Street Capital during the 1st quarter worth $40,000. Wellington Shields & Co. LLC acquired a new stake in Main Street Capital during the 1st quarter worth $41,000. Finally, Quarry LP acquired a new stake in Main Street Capital during the 1st quarter worth $48,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Company Profile

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.

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