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

Main Street Capital Co. (NYSE:MAIN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $55.93 and last traded at $55.93, with a volume of 1791 shares changing hands. The stock had previously closed at $55.47.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAIN. B. Riley upped 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 report on Monday, November 11th. Oppenheimer upped their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Tuesday, August 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $52.00 price target on shares of Main Street Capital in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.80.

Main Street Capital Stock Performance

The business has a fifty day moving average price of $51.78 and a 200-day moving average price of $50.42. The stock has a market capitalization of $4.92 billion, a P/E ratio of 10.05 and a beta of 1.29. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13.

Main Street Capital Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Godsey & Gibb Inc. bought a new position in Main Street Capital in the third quarter valued at about $28,000. Triad Wealth Partners LLC bought a new stake in Main Street Capital during the second quarter valued at about $38,000. Truvestments Capital LLC purchased a new position in shares of Main Street Capital in the third quarter valued at about $39,000. Optimum Investment Advisors grew its holdings in Main Street Capital by 100.0% during the 2nd quarter. Optimum Investment Advisors now owns 1,000 shares of the financial services provider’s stock valued at $50,000 after buying an additional 500 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Main Street Capital during the third quarter worth $50,000. 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.