Main Street Capital (NYSE:MAIN) Reaches New 52-Week High – Here’s Why

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high during trading on Monday . The stock traded as high as $55.85 and last traded at $55.68, with a volume of 108208 shares traded. The stock had previously closed at $55.29.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a research note on Wednesday, August 14th. Oppenheimer raised their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 13th. Finally, B. Riley raised their target price on shares of Main Street Capital from $49.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus target price of $48.80.

Main Street Capital Trading Up 0.1 %

The firm has a market capitalization of $4.88 billion, a PE ratio of 10.02 and a beta of 1.30. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $52.32 and its 200 day moving average price is $50.66.

Main Street Capital Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, December 20th. Main Street Capital’s dividend payout ratio is presently 53.26%.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently modified their holdings of the stock. Callahan Advisors LLC lifted its position in Main Street Capital by 1.3% during the second quarter. Callahan Advisors LLC now owns 15,429 shares of the financial services provider’s stock valued at $779,000 after buying an additional 200 shares in the last quarter. Widmann Financial Services Inc. lifted its position in Main Street Capital by 0.9% during the third quarter. Widmann Financial Services Inc. now owns 22,990 shares of the financial services provider’s stock valued at $1,153,000 after buying an additional 202 shares in the last quarter. IHT Wealth Management LLC lifted its position in Main Street Capital by 0.3% during the third quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider’s stock valued at $3,190,000 after buying an additional 218 shares in the last quarter. PFG Investments LLC lifted its position in Main Street Capital by 1.8% during the second quarter. PFG Investments LLC now owns 12,557 shares of the financial services provider’s stock valued at $634,000 after buying an additional 227 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Main Street Capital by 7.0% during the third quarter. Sunbelt Securities Inc. now owns 3,509 shares of the financial services provider’s stock valued at $176,000 after buying an additional 229 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

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.