Main Street Capital (NYSE:MAIN) Shares Down 0.5%

Shares of Main Street Capital Co. (NYSE:MAIN) were down 0.5% during trading on Thursday . The stock traded as low as $49.90 and last traded at $49.90. Approximately 83,286 shares traded hands during trading, a decline of 76% from the average daily volume of 347,764 shares. The stock had previously closed at $50.15.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, March 1st. B. Riley lowered Main Street Capital from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Monday, January 8th. Royal Bank of Canada boosted their target price on shares of Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial upped their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a “hold” rating in a research note on Monday, February 26th. Finally, Oppenheimer boosted their price objective on shares of Main Street Capital from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.17.

Main Street Capital Price Performance

The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 9.56 and a beta of 1.25. The business’s 50 day simple moving average is $46.89 and its 200-day simple moving average is $44.03.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The business had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. On average, research analysts forecast that Main Street Capital Co. will post 4.07 earnings per share for the current year.

Main Street Capital Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were given a dividend of $0.30 per share. This is an increase from Main Street Capital’s previous dividend of $0.24. This represents a dividend yield of 8.37%. The ex-dividend date of this dividend was Tuesday, March 19th. Main Street Capital’s dividend payout ratio is currently 55.17%.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds have recently made changes to their positions in the stock. LifeSteps Financial Inc. acquired a new stake in Main Street Capital in the first quarter valued at approximately $35,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Main Street Capital by 73.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 483 shares in the last quarter. Signaturefd LLC grew its position in Main Street Capital by 157.9% during the 3rd quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 747 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Main Street Capital by 23.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,744 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 335 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new position in Main Street Capital in the fourth quarter valued at about $72,000. 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.