Analysts Set Main Street Capital Corporation (NYSE:MAIN) Price Target at $62.43

Shares of Main Street Capital Corporation (NYSE:MAIN) have earned an average recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $62.4286.

Several brokerages have recently commented on MAIN. Citizens Jmp initiated coverage on shares of Main Street Capital in a research report on Monday, December 8th. They set a “market outperform” rating and a $70.00 price objective for the company. B. Riley reduced their price target on shares of Main Street Capital from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Royal Bank Of Canada dropped their price objective on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. Citigroup began coverage on shares of Main Street Capital in a research report on Monday, December 8th. They set an “outperform” rating on the stock. Finally, JMP Securities set a $70.00 target price on Main Street Capital in a research report on Monday, December 8th.

Institutional Trading of Main Street Capital

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in Main Street Capital by 100.9% during the third quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock worth $155,681,000 after buying an additional 1,229,863 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Main Street Capital by 45,123.0% during the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after acquiring an additional 589,307 shares in the last quarter. UBS Group AG raised its holdings in shares of Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after acquiring an additional 534,374 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Main Street Capital by 90.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock valued at $24,320,000 after acquiring an additional 181,733 shares in the last quarter. Finally, HRT Financial LP boosted its stake in Main Street Capital by 147.7% during the 2nd quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock valued at $12,613,000 after purchasing an additional 127,270 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Stock Performance

MAIN stock opened at $60.78 on Thursday. The firm has a market cap of $5.45 billion, a PE ratio of 10.08 and a beta of 0.80. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $58.74 and a 200-day moving average price of $61.48. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.09). The business had revenue of $151.23 million for the quarter, compared to analyst estimates of $140.53 million. Main Street Capital had a return on equity of 12.39% and a net margin of 95.59%. As a group, equities research analysts expect that Main Street Capital will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 5.1%. Main Street Capital’s payout ratio is currently 50.75%.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.