Main Street Capital (NYSE:MAIN) Hits New 52-Week Low – What’s Next?

Main Street Capital Corporation (NYSE:MAIN)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $49.65 and last traded at $49.3450, with a volume of 423556 shares. The stock had previously closed at $51.02.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several analyst reports. Weiss Ratings lowered Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Citizens Jmp reduced their price objective on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Royal Bank Of Canada reduced their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Wells Fargo & Company initiated coverage on Main Street Capital in a research note on Friday. They issued an “equal weight” rating and a $50.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.14.

Main Street Capital Price Performance

The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.59 billion, a PE ratio of 10.39 and a beta of 0.76. The stock has a 50 day simple moving average of $53.92 and a 200-day simple moving average of $57.88.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The business had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Equities analysts anticipate that Main Street Capital Corporation will post 3.96 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 6.4%. Main Street Capital’s dividend payout ratio (DPR) is currently 65.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAIN. Garner Asset Management Corp purchased a new position in Main Street Capital in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC grew its position in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Sankala Group LLC purchased a new position in Main Street Capital in the fourth quarter worth about $29,000. Investors Research Corp purchased a new position in Main Street Capital in the fourth quarter worth about $30,000. Finally, Gilpin Wealth Management LLC purchased a new position in Main Street Capital in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.