Main Street Capital (NYSE:MAIN) Given New $54.00 Price Target at UBS Group

Main Street Capital (NYSE:MAIN) had its price target reduced by UBS Group from $55.00 to $54.00 in a research note published on Thursday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, Truist Financial lifted their target price on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a “hold” rating in a research report on Monday, March 3rd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.60.

Main Street Capital Trading Up 0.9 %

NYSE MAIN opened at $53.22 on Thursday. The stock’s 50-day simple moving average is $57.12 and its two-hundred day simple moving average is $56.01. Main Street Capital has a twelve month low of $45.00 and a twelve month high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.64 and a beta of 0.98.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). The firm had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Research analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were issued a $0.30 dividend. This is a boost from Main Street Capital’s previous dividend of $0.25. The ex-dividend date was Thursday, March 20th. This represents a dividend yield of 7.11%. Main Street Capital’s dividend payout ratio (DPR) is currently 51.37%.

Insider Activity at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the firm’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 sale, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the transaction, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at $23,357,636.55. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. 4.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently made changes to their positions in MAIN. Asset Planning Inc purchased a new stake in Main Street Capital in the fourth quarter worth $29,000. Kapitalo Investimentos Ltda bought a new position in Main Street Capital in the 4th quarter worth $45,000. Colonial Trust Advisors purchased a new stake in shares of Main Street Capital in the 4th quarter worth about $46,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Main Street Capital during the 3rd quarter valued at about $50,000. Finally, NBC Securities Inc. purchased a new position in shares of Main Street Capital during the first quarter valued at about $54,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

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.