Main Street Capital (NYSE:MAIN) Price Target Lowered to $70.00 at Citizens Jmp

Main Street Capital (NYSE:MAIN) had its price target decreased by Citizens Jmp from $74.00 to $70.00 in a research report released on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the financial services provider’s stock.

MAIN has been the subject of a number of other reports. Loop Capital raised shares of Main Street Capital to a “neutral” rating and set a $65.00 price objective for the company in a report on Thursday, January 15th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a report on Tuesday, January 27th. Finally, Noble Financial reaffirmed a “neutral” rating on shares of Main Street Capital in a report on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.71.

Main Street Capital Price Performance

NYSE:MAIN opened at $54.57 on Wednesday. The company has a 50-day moving average of $55.77 and a 200-day moving average of $58.51. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 9.89 and a beta of 0.80. Main Street Capital has a 52 week low of $50.77 and a 52 week high of $67.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.06 and a current ratio of 0.06.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $156.17 million during the quarter, compared to the consensus estimate of $141.50 million. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. As a group, equities research analysts anticipate that Main Street Capital will post 4.02 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th were paid a $0.30 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. Main Street Capital’s payout ratio is 56.52%.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quest 10 Wealth Builders Inc. bought a new position in Main Street Capital in the 3rd quarter valued at $25,000. City Holding Co. bought a new position in Main Street Capital in the 3rd quarter valued at $26,000. Garner Asset Management Corp bought a new position in Main Street Capital in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC raised its position in Main Street Capital by 109.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Finally, Sankala Group LLC bought a new position in Main Street Capital in the 4th quarter valued at $29,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.