Shares of Main Street Capital Co. (NYSE:MAIN - Get Free Report) rose 0.8% during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $48.00 to $52.00. Royal Bank of Canada currently has an outperform rating on the stock. Main Street Capital traded as high as $50.11 and last traded at $50.00. Approximately 126,090 shares changed hands during trading, a decline of 64% from the average daily volume of 347,645 shares. The stock had previously closed at $49.60.
A number of other equities research analysts also recently issued reports on the company. Oppenheimer boosted their price target on Main Street Capital from $41.00 to $43.00 and gave the company a "market perform" rating in a research report on Monday, February 26th. B. Riley cut Main Street Capital from a "buy" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a research note on Monday, January 8th. Truist Financial boosted their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a "hold" rating in a research note on Monday, February 26th. Finally, UBS Group boosted their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Main Street Capital currently has an average rating of "Hold" and a consensus target price of $46.17.
Get Our Latest Stock Report on MAIN
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Main Street Capital by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider's stock worth $148,518,000 after acquiring an additional 71,698 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in shares of Main Street Capital by 5.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,073,767 shares of the financial services provider's stock worth $46,419,000 after acquiring an additional 53,232 shares in the last quarter. Van ECK Associates Corp increased its holdings in Main Street Capital by 13.9% in the first quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider's stock valued at $47,726,000 after buying an additional 122,757 shares during the last quarter. Legal & General Group Plc increased its holdings in Main Street Capital by 1.4% in the third quarter. Legal & General Group Plc now owns 588,490 shares of the financial services provider's stock valued at $23,902,000 after buying an additional 8,091 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Main Street Capital by 2.2% in the first quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider's stock valued at $17,021,000 after buying an additional 7,790 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.
Main Street Capital Stock Performance
The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $4.26 billion, a P/E ratio of 9.61 and a beta of 1.29. The company has a fifty day moving average of $46.89 and a two-hundred day moving average of $44.03.
Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. On average, equities analysts anticipate that Main Street Capital Co. will post 4.07 EPS for the current year.
Main Street Capital Increases Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were issued a $0.30 dividend. This is a positive change from Main Street Capital's previous dividend of $0.24. This represents a yield of 8.37%. The ex-dividend date was Tuesday, March 19th. Main Street Capital's payout ratio is currently 55.17%.
About Main Street Capital
(
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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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