Main Street Capital (NYSE:MAIN) Stock Price Up 0.9% - Time to Buy?

Main Street Capital Co. (NYSE:MAIN - Get Free Report)'s stock price traded up 0.9% on Thursday . The company traded as high as $53.60 and last traded at $53.67. 301,760 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 460,363 shares. The stock had previously closed at $53.17.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group reduced their price target on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday. Finally, Truist Financial cut their target price on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $52.80.

Main Street Capital Stock Performance

The stock has a market capitalization of $4.78 billion, a PE ratio of 9.79 and a beta of 0.86. The business's fifty day moving average is $54.57 and its two-hundred day moving average is $56.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. As a group, research analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.67%. This is an increase from Main Street Capital's previous monthly dividend of $0.25. Main Street Capital's dividend payout ratio (DPR) is currently 50.93%.

Insider Buying and Selling at Main Street Capital

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

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $10,460,000. Victory Capital Management Inc. bought a new position in Main Street Capital in the 1st quarter valued at $6,205,000. First Trust Advisors LP acquired a new stake in Main Street Capital in the fourth quarter worth $6,059,000. Finally, Morgan Dempsey Capital Management LLC acquired a new position in shares of Main Street Capital during the fourth quarter worth about $6,007,000. 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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