Main Street Capital Corporation (NYSE:MAIN) Stock Has Average Target Price of $61.00 According to Analysts

Shares of Main Street Capital Corporation (NYSE:MAIN) have received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $61.00.

A number of research firms have recently commented on MAIN. UBS Group cut their price target on shares of Main Street Capital from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company raised shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $55.00 to $60.00 in a research report on Tuesday, September 29th. Weiss Ratings upgraded shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th.

Insider Activity at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh purchased 2,550 shares of the stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $59.05 per share, with a total value of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. This trade represents a 12.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Main Street Capital

Large investors have recently bought and sold shares of the business. John Boyer Inc. purchased a new position in Main Street Capital in the 3rd quarter worth about $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Main Street Capital during the 2nd quarter valued at about $28,000. Fifth Third Bancorp purchased a new stake in shares of Main Street Capital during the 1st quarter valued at about $57,000. Root Financial Partners LLC purchased a new stake in shares of Main Street Capital during the 3rd quarter valued at about $64,000. Finally, CX Institutional bought a new stake in shares of Main Street Capital in the third quarter worth approximately $65,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Trading Up 1.4%

Shares of Main Street Capital stock opened at $54.10 on Wednesday. The firm’s 50-day moving average is $55.88 and its 200 day moving average is $55.65. Main Street Capital has a 1 year low of $48.95 and a 1 year high of $65.23.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. Equities analysts expect that Main Street Capital will post 3.75 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a $0.2650 dividend. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $3.18 dividend on an annualized basis and a dividend yield of 5.9%.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.