Main Street Capital (NYSE:MAIN) Hits New 12-Month Low – Here’s Why

Main Street Capital Corporation (NYSE:MAIN) hit a new 52-week low on Friday . The stock traded as low as $49.65 and last traded at $49.3450, with a volume of 423556 shares traded. The stock had previously closed at $51.02.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MAIN shares. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a research report on Tuesday, January 27th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company started coverage on Main Street Capital in a research report on Friday. They issued an “equal weight” rating and a $50.00 target price on the stock. Royal Bank Of Canada dropped their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.14.

Main Street Capital Price Performance

The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 10.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The business has a fifty day moving average price of $53.77 and a 200 day moving average price of $57.82.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. On average, research analysts expect that Main Street Capital Corporation will post 3.96 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is 65.68%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAIN. Garner Asset Management Corp acquired a new position in shares of Main Street Capital during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC boosted its stake in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Sankala Group LLC bought a new position in Main Street Capital during the fourth quarter valued at about $29,000. Investors Research Corp bought a new position in Main Street Capital during the fourth quarter valued at about $30,000. Finally, Gilpin Wealth Management LLC bought a new position in Main Street Capital during the fourth quarter valued at about $31,000. 20.31% of the stock is owned by institutional investors and hedge funds.

About Main Street Capital

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.