B. Riley Issues Positive Forecast for Main Street Capital (NYSE:MAIN) Stock Price

Key Points

• Analysts at B. Riley have raised the price target for Main Street Capital from $60.00 to $64.00, indicating a potential downside of 2.96% from its current price.
• Main Street Capital's stock has a current consensus rating of “Hold” from multiple analysts, with an average target price of $59.75.
• In recent trading, Main Street Capital shares decreased by 0.2%, closing at $65.95, with a twelve-month high of $67.77.

Main Street Capital (NYSE:MAIN - Free Report) had its price target lifted by B. Riley from $60.00 to $64.00 in a research note released on Monday, Marketbeat reports. They currently have a neutral rating on the financial services provider's stock.

Several other equities analysts have also recently issued reports on the company. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Truist Financial boosted their price objective on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, UBS Group reissued a "neutral" rating and issued a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $59.75.

Main Street Capital Stock Performance

MAIN traded down $0.5690 on Monday, reaching $65.0810. 580,010 shares of the stock were exchanged, compared to its average volume of 499,294. The company's 50-day moving average price is $62.86 and its 200 day moving average price is $58.64. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $5.82 billion, a PE ratio of 10.72 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued 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. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The company had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. As a group, sell-side analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

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%.

Insider Activity

In related news, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital 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 completion of the transaction, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. The trade was a 7.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated 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 of the company's stock, valued at approximately $5,532,018.45. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Main Street Capital

Several large investors have recently bought and sold shares of MAIN. Smartleaf Asset Management LLC increased 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 in the last quarter. Financial Network Wealth Advisors LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $39,000. Spire Wealth Management purchased a new stake in Main Street Capital during the 1st quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new stake in Main Street Capital during the 1st quarter worth approximately $41,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Main Street Capital during the 4th quarter worth approximately $45,000. 20.31% of the stock is currently owned by hedge funds and other 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.