Main Street Capital (NYSE:MAIN) Hits New 1-Year High - Here's Why

Main Street Capital Corporation (NYSE:MAIN - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $65.45 and last traded at $64.98, with a volume of 412533 shares traded. The stock had previously closed at $64.82.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Truist Financial cut their price target on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a report on Monday, May 12th. UBS Group reiterated a "neutral" rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley upgraded Main Street Capital to a "hold" rating in a report on Monday, June 16th. Finally, Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $53.60.

Main Street Capital Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. The company has a fifty day moving average price of $58.59 and a 200 day moving average price of $57.75. The company has a market capitalization of $5.82 billion, a P/E ratio of 11.11 and a beta of 0.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The company had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. On average, sell-side analysts forecast that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, July 15th. Investors of record on Wednesday, July 9th were issued a dividend of $0.255 per share. This represents a yield of 5.18%. The ex-dividend date was Tuesday, July 8th. Main Street Capital's payout ratio is 51.95%.

Insiders Place Their Bets

In related news, EVP Jason B. Beauvais sold 13,664 shares of the firm's stock in a transaction that occurred 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 owned 181,526 shares of the company's stock, valued at approximately $10,777,198.62. This trade represents a 7.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.09% of the company's stock.

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in shares of Main Street Capital during the 1st quarter valued at $39,000. Spire Wealth Management acquired a new stake in shares of Main Street Capital in the 1st quarter valued at $40,000. Wellington Shields & Co. LLC acquired a new stake in shares of Main Street Capital in the 1st quarter valued at $41,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Main Street Capital in the 4th quarter valued at $45,000. Finally, Colonial Trust Advisors acquired a new stake in shares of Main Street Capital in the 4th quarter valued at $46,000. 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.