Main Street Capital Corporation (NYSE:MAIN – Get Free Report)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $50.30 and last traded at $50.2680, with a volume of 309319 shares. The stock had previously closed at $51.01.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on MAIN. Noble Financial reissued a “neutral” rating on shares of Main Street Capital in a report on Thursday, January 15th. Weiss Ratings downgraded Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Citizens Jmp decreased their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Citigroup reissued an “outperform” rating on shares of Main Street Capital in a report on Tuesday, January 27th. Finally, Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average target price of $61.83.
Read Our Latest Report on MAIN
Main Street Capital Price Performance
Main Street Capital (NYSE:MAIN – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 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 net margin of 74.86% and a return on equity of 12.01%. Equities analysts forecast that Main Street Capital Corporation will post 4.02 EPS for the current fiscal year.
Main Street Capital Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders 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) dividend on an annualized basis and a dividend yield of 6.2%. Main Street Capital’s payout ratio is 65.68%.
Institutional Trading of Main Street Capital
A number of institutional investors and hedge funds have recently made changes to their positions in MAIN. JPMorgan Chase & Co. grew its holdings in Main Street Capital by 90.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock valued at $24,320,000 after buying an additional 181,733 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Main Street Capital by 5,556.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,144 shares of the financial services provider’s stock valued at $2,298,000 after buying an additional 35,505 shares in the last quarter. Childress Capital Advisors LLC grew its holdings in Main Street Capital by 165.2% in the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock valued at $17,739,000 after buying an additional 182,973 shares in the last quarter. Brighton Jones LLC purchased a new stake in Main Street Capital in the 4th quarter valued at $304,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Main Street Capital by 16.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 334,542 shares of the financial services provider’s stock valued at $21,274,000 after buying an additional 47,290 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.
Main Street Capital Company Profile
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.
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