Brokerages Set Main Street Capital Corporation (NYSE:MAIN) Price Target at $59.75

Key Points

• Main Street Capital Corporation (NYSE:MAIN) has received a consensus recommendation of "Hold" from five ratings firms, with four holding this rating and one providing a strong buy recommendation.
• The company recently declared a monthly dividend of $0.255, which will be paid on December 15th, representing an annualized yield of 4.7%.
• Main Street Capital's stock has a recent price target range set by brokerages between $58.00 and $64.00, with the current trading price at around $65.70.

Shares of Main Street Capital Corporation (NYSE:MAIN - Get Free Report) have earned a consensus recommendation of "Hold" from the five analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $59.75.

MAIN has been the topic of a number of recent analyst reports. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Truist Financial upped their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, UBS Group reissued a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th.

Insider Buying and Selling at Main Street Capital

In related news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director owned 82,383 shares in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total value of $811,231.68. Following the transaction, the executive vice president directly owned 181,526 shares in the company, valued at approximately $10,777,198.62. The trade was a 7.00% decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Main Street Capital

A number of large investors have recently added to or reduced their stakes in MAIN. Smartleaf Asset Management LLC grew its stake in Main Street Capital by 109.6% during the second 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 shares of Main Street Capital in the first quarter valued at about $39,000. Spire Wealth Management purchased a new stake in shares of Main Street Capital during the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital in the 1st quarter worth approximately $41,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in Main Street Capital in the fourth quarter valued at approximately $45,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Up 0.2%

Shares of NYSE MAIN traded up $0.15 during mid-day trading on Friday, hitting $64.78. The company had a trading volume of 212,112 shares, compared to its average volume of 546,597. The company has a market capitalization of $5.79 billion, a PE ratio of 10.66 and a beta of 0.85. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The firm has a 50-day simple moving average of $63.13 and a two-hundred day simple moving average of $58.67. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.255 dividend. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 8th. Main Street Capital's payout ratio is currently 50.41%.

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.