Main Street Capital (NYSE:MAIN) Shares Up 0.8% After Analyst Upgrade

Main Street Capital Co. (NYSE:MAIN) shot up 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. 126,090 shares were traded during mid-day trading, a decline of 64% from the average session volume of 347,645 shares. The stock had previously closed at $49.60.

A number of other equities analysts also recently weighed in on MAIN. Truist Financial boosted their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “hold” rating in a report on Monday, February 26th. B. Riley downgraded shares of Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, January 8th. Oppenheimer boosted their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Monday, February 26th. Finally, UBS Group boosted their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital presently has a consensus rating of “Hold” and an average price target of $46.17.

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $148,518,000 after purchasing an additional 71,698 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings 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 valued at $46,419,000 after purchasing an additional 53,232 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of 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 purchasing an additional 122,757 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of 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 purchasing an additional 8,091 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of 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 acquiring an additional 7,790 shares during the period. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Stock Performance

The stock’s 50-day moving average price is $46.89 and its 200-day moving average price is $44.03. The company has a market cap of $4.26 billion, a P/E ratio of 9.61 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. Equities analysts anticipate that Main Street Capital Co. will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were given a $0.30 dividend. This represents a dividend yield of 8.37%. The ex-dividend date was Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s payout ratio is presently 55.17%.

About Main Street Capital

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.