Main Street Capital (NYSE:MAIN) Shares Down 1.9% Following Analyst Downgrade

Shares of Main Street Capital Co. (NYSE:MAIN - Get Free Report) were down 1.9% during mid-day trading on Wednesday after Oppenheimer lowered their price target on the stock from $58.00 to $53.00. Oppenheimer currently has a market perform rating on the stock. Main Street Capital traded as low as $53.13 and last traded at $52.93. Approximately 268,417 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 568,777 shares. The stock had previously closed at $53.97.

Several other analysts also recently issued reports on the stock. Truist Financial decreased their price objective on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a report on Monday. UBS Group dropped their price objective on 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $52.80.

Insider Activity

In other news, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the sale, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. The trade was a 20.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now directly owns 402,371 shares of the company's stock, valued at $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds have recently modified their holdings of MAIN. Barclays PLC boosted its stake in shares of Main Street Capital by 75.6% in the 3rd quarter. Barclays PLC now owns 72,265 shares of the financial services provider's stock valued at $3,624,000 after purchasing an additional 31,110 shares in the last quarter. Brookstone Capital Management acquired a new position in Main Street Capital in the fourth quarter valued at about $226,000. AdvisorNet Financial Inc grew its stake in Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock worth $72,000 after buying an additional 729 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Main Street Capital during the fourth quarter worth approximately $222,000. Finally, RMR Wealth Builders raised its stake in shares of Main Street Capital by 6.3% in the fourth quarter. RMR Wealth Builders now owns 14,140 shares of the financial services provider's stock valued at $828,000 after acquiring an additional 832 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Down 1.8%

The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 9.61 and a beta of 0.86. The firm has a fifty day moving average price of $54.57 and a 200 day moving average price of $56.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results 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. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. Sell-side analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.255 dividend. This represents a $3.06 annualized dividend and a yield of 5.77%. The ex-dividend date is Monday, September 8th. This is a boost from Main Street Capital's previous monthly dividend of $0.25. Main Street Capital's payout ratio is 50.93%.

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.

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