Main Street Capital (NYSE:MAIN) Trading Up 0.4% – Should You Buy?

Main Street Capital Co. (NYSE:MAIN) shares were up 0.4% during mid-day trading on Monday . The company traded as high as $55.55 and last traded at $55.51. Approximately 139,928 shares were traded during trading, a decline of 70% from the average daily volume of 461,510 shares. The stock had previously closed at $55.29.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MAIN shares. Oppenheimer restated a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Truist Financial lowered their price target on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a research report on Monday, May 12th. Finally, UBS Group lowered their price target 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.80.

Main Street Capital Stock Up 1.4%

The firm has a fifty day moving average price of $54.38 and a 200 day moving average price of $56.37. 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 cap of $4.99 billion, a P/E ratio of 10.16 and a beta of 0.86.

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

Main Street Capital Increases Dividend

The business also recently announced 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 positive change 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 5.46%. Main Street Capital’s dividend payout ratio is presently 50.93%.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, CEO Dwayne L. Hyzak sold 120,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 402,371 shares in the company, valued at $23,357,636.55. This trade represents a 22.97% 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, insider David L. Magdol sold 100,000 shares of the firm’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 $5,805,000.00. Following the completion of the transaction, the insider now owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This represents a 20.96% 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.

Institutional Trading of Main Street Capital

A number of hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in Main Street Capital by 45,123.0% in the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider’s stock valued at $33,405,000 after acquiring an additional 589,307 shares in the last quarter. Invesco Ltd. increased its stake in shares of 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 buying an additional 393,101 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Main Street Capital in the fourth quarter valued at about $10,460,000. Victory Capital Management Inc. acquired a new stake in shares of Main Street Capital in the first quarter valued at about $6,205,000. Finally, First Trust Advisors LP acquired a new stake in shares of Main Street Capital in the fourth quarter valued at about $6,059,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Company Profile

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.