Main Street Capital (NYSE:MAIN) Given New $53.00 Price Target at Oppenheimer

Main Street Capital (NYSE:MAIN) had its price objective decreased by Oppenheimer from $58.00 to $53.00 in a research report released on Tuesday morning,Benzinga reports. Oppenheimer currently has a market perform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Truist Financial cut their target price on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday. UBS Group cut their target price on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.80.

Main Street Capital Price Performance

MAIN stock opened at $53.93 on Tuesday. 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 stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 9.77 and a beta of 0.86. The stock’s fifty day simple moving average is $54.64 and its 200-day simple moving average is $56.33. Main Street Capital has a 52-week low of $45.00 and a 52-week high of $63.32.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. The business had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. Equities research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.255 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 5.67%. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date is Monday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is 50.93%.

Insider Buying and Selling

In related news, insider David L. Magdol sold 100,000 shares of Main Street Capital 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 completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Dwayne L. Hyzak sold 120,000 shares of Main Street Capital stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at $23,357,636.55. This trade represents 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

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in Main Street Capital by 282.5% in the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider’s stock valued at $30,105,000 after acquiring an additional 393,101 shares during the period. Raymond James Financial Inc. acquired a new position in Main Street Capital in the fourth quarter valued at approximately $10,460,000. Victory Capital Management Inc. bought a new stake in shares of Main Street Capital during the first quarter valued at approximately $6,205,000. First Trust Advisors LP bought a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $6,059,000. Finally, Morgan Dempsey Capital Management LLC bought a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $6,007,000. 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.