Main Street Capital (NYSE:MAIN) Sets New 1-Year High – What’s Next?

Shares of Main Street Capital Co. (NYSE:MAIN) reached a new 52-week high on Monday . The company traded as high as $54.09 and last traded at $54.09, with a volume of 5075 shares changing hands. The stock had previously closed at $53.97.

Analyst Ratings Changes

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

Main Street Capital Price Performance

The firm’s 50 day simple moving average is $51.48 and its two-hundred day simple moving average is $50.30. The firm has a market capitalization of $4.82 billion, a P/E ratio of 9.90 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital Dividend Announcement

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

Hedge Funds Weigh In On Main Street Capital

A number of large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Main Street Capital by 1.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,364 shares of the financial services provider’s stock worth $3,523,000 after buying an additional 1,107 shares during the period. Advisors Asset Management Inc. increased its position in shares of Main Street Capital by 51.6% in the first quarter. Advisors Asset Management Inc. now owns 19,008 shares of the financial services provider’s stock valued at $899,000 after acquiring an additional 6,468 shares during the period. Coppell Advisory Solutions Corp. bought a new position in shares of Main Street Capital during the first quarter valued at about $286,000. Virtu Financial LLC purchased a new stake in shares of Main Street Capital during the first quarter worth about $234,000. Finally, Cetera Investment Advisers bought a new stake in shares of Main Street Capital in the first quarter worth about $2,669,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

About Main Street Capital

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.