Main Street Capital (NYSE:MAIN) Reaches New 52-Week High at $52.38

Main Street Capital Co. (NYSE:MAINGet Free Report)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $52.38 and last traded at $52.37, with a volume of 73500 shares trading hands. The stock had previously closed at $52.01.

Analysts Set New Price Targets

Several research firms recently issued reports on MAIN. Truist Financial raised their target price on Main Street Capital from $45.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. Royal Bank of Canada lifted their price objective on Main Street Capital from $48.00 to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Finally, B. Riley upped their target price on Main Street Capital from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.20.

Check Out Our Latest Stock Report on Main Street Capital

Main Street Capital Stock Performance

The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.40 billion, a P/E ratio of 9.36 and a beta of 1.29. The business has a fifty day simple moving average of $49.62 and a 200-day simple moving average of $47.02.

Main Street Capital (NYSE:MAINGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. The company had revenue of $131.61 million during the quarter, compared to analyst estimates of $128.00 million. During the same period last year, the business earned $1.02 EPS. On average, sell-side analysts predict that Main Street Capital Co. will post 4.08 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently announced a dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 24th were issued a $0.30 dividend. This represents a dividend yield of 7.55%. The ex-dividend date of this dividend was Friday, June 21st. Main Street Capital’s payout ratio is 53.65%.

Institutional Investors Weigh In On Main Street Capital

A number of large investors have recently added to or reduced their stakes in MAIN. Price T Rowe Associates Inc. MD increased its position in Main Street Capital by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after acquiring an additional 71,698 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Main Street Capital by 1.4% during the first quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock valued at $51,528,000 after buying an additional 15,392 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Main Street Capital by 13.9% during the 1st quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after acquiring an additional 122,757 shares during the last quarter. Legal & General Group Plc grew its holdings in Main Street Capital by 1.4% during 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 purchasing an additional 8,091 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in Main Street Capital by 2.2% during 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 purchasing an additional 7,790 shares during the period. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

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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.

Further Reading

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