Main Street Capital (NYSE:MAIN) Trading 0.4% Higher – Time to Buy?

Main Street Capital Co. (NYSE:MAIN) rose 0.4% during mid-day trading on Tuesday . The company traded as high as $56.36 and last traded at $56.27. Approximately 91,133 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 462,450 shares. The stock had previously closed at $56.03.

Analysts Set New Price Targets

Several brokerages have issued reports on MAIN. Oppenheimer reiterated a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. UBS Group decreased their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial cut their target price on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.80.

Main Street Capital Stock Performance

The company has a fifty day moving average of $54.39 and a two-hundred day moving average of $56.44. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 10.23 and a beta of 0.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The company had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. As a group, equities research analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.255 dividend. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 annualized dividend and a yield of 5.41%. Main Street Capital’s payout ratio is 50.93%.

Insider Buying and Selling at Main Street Capital

In related news, insider David L. Magdol sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This represents a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the sale, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. The trade was a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Main Street Capital by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock valued at $75,469,000 after purchasing an additional 92,833 shares in the last quarter. Burgundy Asset Management Ltd. increased its stake in shares of Main Street Capital by 1.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,153,600 shares of the financial services provider’s stock valued at $67,578,000 after purchasing an additional 17,196 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock worth $33,405,000 after buying an additional 589,307 shares in the last quarter. Invesco Ltd. lifted its position in shares of Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock worth $30,105,000 after buying an additional 393,101 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its stake in Main Street Capital by 5.2% in the first quarter. Adell Harriman & Carpenter Inc. now owns 447,642 shares of the financial services provider’s stock valued at $25,319,000 after buying an additional 22,090 shares in the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.