Main Street Capital (NYSE:MAIN) Sets New 52-Week High - Should You Buy?

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) shares reached a new 52-week high during trading on Monday . The company 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.

Wall Street Analyst Weigh In

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

Main Street Capital Price Performance

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12. The business's 50 day simple moving average is $59.05 and its two-hundred day simple moving average is $57.85. The stock has a market capitalization of $5.84 billion, a P/E ratio of 11.13 and a beta of 0.82.

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

Main Street Capital Cuts Dividend

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

Insider Buying and Selling

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business'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 $10,777,198.62. The trade was a 7.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Institutional Investors 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. Brighton Jones LLC purchased a new stake in shares of Main Street Capital in the 4th quarter worth about $304,000. LPL Financial LLC grew its position in Main Street Capital by 1.6% during the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider's stock valued at $17,525,000 after purchasing an additional 4,740 shares during the last quarter. TrueMark Investments LLC purchased a new stake in Main Street Capital during the 4th quarter valued at about $446,000. JPMorgan Chase & Co. grew its position in Main Street Capital by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 139,189 shares of the financial services provider's stock valued at $8,154,000 after purchasing an additional 37,640 shares during the last quarter. Finally, AssuredPartners Investment Advisors LLC purchased a new stake in Main Street Capital during the 4th quarter valued at about $385,000. 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.