Oppenheimer Has Lowered Expectations for Main Street Capital (NYSE:MAIN) Stock Price

Main Street Capital (NYSE:MAIN - Free Report) had its target price decreased by Oppenheimer from $58.00 to $53.00 in a research report released on Tuesday morning,Benzinga reports. Oppenheimer currently has a market perform rating on the financial services provider's stock.

MAIN has been the subject of a number of other reports. UBS Group cut their target price on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Truist Financial cut their target price on Main Street Capital from $62.00 to $54.00 and set a "hold" rating for the company in a research report on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.80.

Main Street Capital Price Performance

Shares of NYSE:MAIN traded up $1.36 during trading on Tuesday, reaching $55.35. 807,529 shares of the company traded hands, compared to its average volume of 461,850. The company's 50 day moving average is $54.38 and its two-hundred day moving average is $56.37. The firm has a market capitalization of $4.93 billion, a PE ratio of 10.03 and a beta of 0.86. 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 has a 52 week low of $45.00 and a 52 week high of $63.32.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results 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. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, sell-side analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm 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 is Monday, September 8th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.53%. This is a boost from Main Street Capital's previous monthly dividend of $0.25. Main Street Capital's payout ratio is 50.93%.

Insider Transactions 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 dated Wednesday, March 26th. The stock was 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 of the company's stock, valued at $23,357,636.55. This represents a 22.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David L. Magdol sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares of the company's stock, valued at approximately $21,895,415.10. The trade was a 20.96% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Main Street Capital by 75.6% in the third quarter. Barclays PLC now owns 72,265 shares of the financial services provider's stock valued at $3,624,000 after buying an additional 31,110 shares during the period. Brookstone Capital Management acquired a new stake in shares of Main Street Capital in the fourth quarter valued at about $226,000. AdvisorNet Financial Inc increased its stake in shares of Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock valued at $72,000 after buying an additional 729 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Main Street Capital in the fourth quarter valued at about $222,000. Finally, RMR Wealth Builders increased 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 buying an additional 832 shares during the period. 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.