Main Street Capital (NYSE:MAIN) Reaches New 1-Year High – Here’s Why

Main Street Capital Co. (NYSE:MAIN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $61.42 and last traded at $61.32, with a volume of 196580 shares. The stock had previously closed at $60.72.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.80.

Main Street Capital Trading Up 1.0 %

The firm has a 50-day moving average of $57.20 and a 200 day moving average of $52.80. The company has a market cap of $5.41 billion, a P/E ratio of 11.11 and a beta of 1.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, November 7th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.02). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $136.82 million during the quarter, compared to the consensus estimate of $137.57 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. On average, analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be given a $0.30 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Friday, February 7th. Main Street Capital’s payout ratio is 54.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MAIN. Benjamin Edwards Inc. lifted its position in shares of Main Street Capital by 971.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock valued at $7,078,000 after buying an additional 127,988 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in Main Street Capital by 3,098.3% during the third quarter. Joel Isaacson & Co. LLC now owns 127,996 shares of the financial services provider’s stock worth $6,418,000 after purchasing an additional 123,994 shares during the period. International Assets Investment Management LLC increased its stake in shares of Main Street Capital by 7,077.4% in the third quarter. International Assets Investment Management LLC now owns 112,182 shares of the financial services provider’s stock worth $5,625,000 after purchasing an additional 110,619 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Main Street Capital by 3.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,195,476 shares of the financial services provider’s stock valued at $61,758,000 after buying an additional 45,381 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Main Street Capital in the 4th quarter worth approximately $2,626,000. Institutional investors own 20.31% of the company’s stock.

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.