Main Street Capital (NYSE:MAIN) Reaches New 52-Week High - Here's What Happened

Main Street Capital Corporation (NYSE:MAIN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $63.68 and last traded at $63.41, with a volume of 122445 shares. The stock had previously closed at $62.97.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MAIN shares. Truist Financial lowered their price objective 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. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. B. Riley upgraded shares of Main Street Capital to a "hold" rating in a research note on Monday, June 16th. UBS Group decreased their price target on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.80.

Main Street Capital Stock Performance

The company has a market capitalization of $5.66 billion, a P/E ratio of 10.79 and a beta of 0.82. The stock has a fifty day simple moving average of $57.27 and a 200-day simple moving average of $57.52. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.12.

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

Main Street Capital Cuts Dividend

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

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 directly owned 181,526 shares of the company's stock, valued at $10,777,198.62. The trade was a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MAIN. Financial Network Wealth Advisors LLC bought a new position in shares of Main Street Capital in the first quarter valued at about $39,000. Spire Wealth Management bought a new stake in Main Street Capital during the 1st quarter worth about $40,000. Wellington Shields & Co. LLC bought a new stake in Main Street Capital during the 1st quarter worth about $41,000. Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the 4th quarter worth about $45,000. Finally, Colonial Trust Advisors bought a new stake in Main Street Capital during the 4th quarter worth about $46,000. 20.31% of the stock is owned by institutional investors.

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.