Main Street Capital Co. (NYSE:MAIN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $41.09 and last traded at $41.06, with a volume of 9453 shares trading hands. The stock had previously closed at $40.64.
Several brokerages have recently weighed in on MAIN. Zacks Investment Research cut Main Street Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. National Securities reissued a “neutral” rating and issued a $38.00 price target on shares of Main Street Capital in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Main Street Capital presently has an average rating of “Hold” and an average price target of $39.80.
The company has a market cap of $2.56 billion, a price-to-earnings ratio of 15.83 and a beta of 0.89. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.21.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company had revenue of $61.40 million during the quarter, compared to analysts’ expectations of $60.33 million. Main Street Capital had a return on equity of 10.70% and a net margin of 73.33%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities research analysts anticipate that Main Street Capital Co. will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, August 20th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.46 annualized dividend and a dividend yield of 5.98%. Main Street Capital’s payout ratio is 92.31%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAIN. Trinity Legacy Partners LLC acquired a new stake in Main Street Capital during the fourth quarter worth approximately $5,621,000. Investec Asset Management LTD acquired a new stake in Main Street Capital during the fourth quarter worth approximately $4,862,000. Ellis Investment Partners LLC acquired a new stake in Main Street Capital during the first quarter worth approximately $114,000. Pembroke Management LTD acquired a new stake in Main Street Capital during the first quarter worth approximately $2,781,000. Finally, Citigroup Inc. grew its stake in Main Street Capital by 1,009.3% during the first quarter. Citigroup Inc. now owns 72,583 shares of the financial services provider’s stock worth $2,700,000 after purchasing an additional 66,040 shares during the period. 22.58% of the stock is owned by institutional investors and hedge funds.
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About Main Street Capital (NYSE:MAIN)
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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