Main Street Capital (NYSE:MAIN) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial analysts have raised the target price for Main Street Capital from $54.00 to $64.00, although they maintain a "hold" rating, suggesting a potential downside of 2.92% from the stock's current price.
• Main Street Capital shares increased by 0.4% during trading on Monday, reaching $65.92, with a market cap of $5.87 billion and a P/E ratio of 10.86.
• The company reported earnings of $0.99 per share for the last quarter, meeting analysts' expectations while generating revenue of $143.97 million, surpassing the forecast of $137.23 million.

Main Street Capital (NYSE:MAIN - Get Free Report) had its target price lifted by analysts at Truist Financial from $54.00 to $64.00 in a report released on Monday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's target price points to a potential downside of 2.92% from the stock's current price.

MAIN has been the subject of a number of other reports. B. Riley raised Main Street Capital to a "hold" rating in a report on Monday, June 16th. Oppenheimer reissued a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, 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 research report on Wednesday, July 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $55.60.

Main Street Capital Stock Up 0.4%

Shares of Main Street Capital stock traded up $0.29 during trading on Monday, hitting $65.92. 220,533 shares of the stock traded hands, compared to its average volume of 550,022. The firm has a market cap of $5.87 billion, a P/E ratio of 10.86 and a beta of 0.85. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.12. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.03. The stock's fifty day simple moving average is $61.13 and its 200 day simple moving average is $58.28.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.82% and a net margin of 96.16%. The business had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. On average, equities analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jason B. Beauvais sold 13,664 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors have recently bought and sold shares of MAIN. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Main Street Capital by 50.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider's stock valued at $468,000 after buying an additional 2,756 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Main Street Capital by 10.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider's stock valued at $13,736,000 after buying an additional 22,340 shares in the last quarter. Segment Wealth Management LLC lifted its stake in shares of Main Street Capital by 134.3% in the 1st quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider's stock valued at $6,674,000 after purchasing an additional 67,626 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Main Street Capital in the 1st quarter valued at $578,000. Finally, Victory Capital Management Inc. acquired a new stake in Main Street Capital during the 1st quarter worth about $6,205,000. 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.

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