Main Street Capital (NYSE:MAIN) Reaches New 52-Week High – Time to Buy?

Main Street Capital Co. (NYSE:MAIN) hit a new 52-week high during mid-day trading 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 Upgrades and Downgrades

A number of equities research analysts recently weighed in on MAIN shares. Royal Bank of Canada restated an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer increased their price objective on 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 lifted their target price on Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus price target of $48.80.

Main Street Capital Stock Up 0.2 %

The stock’s 50-day simple moving average is $51.48 and its 200-day simple moving average is $50.30. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.82 billion, a P/E ratio of 9.90 and a beta of 1.29.

Main Street Capital Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MAIN. Van ECK Associates Corp raised its stake in shares of Main Street Capital by 14.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider’s stock worth $58,069,000 after purchasing an additional 141,312 shares during the period. Benjamin Edwards Inc. raised its position in Main Street Capital by 971.3% in the third quarter. Benjamin Edwards Inc. now owns 141,165 shares of the financial services provider’s stock worth $7,078,000 after acquiring an additional 127,988 shares during the period. Joel Isaacson & Co. LLC boosted its stake in Main Street Capital by 3,098.3% in the third quarter. Joel Isaacson & Co. LLC now owns 127,996 shares of the financial services provider’s stock valued at $6,418,000 after acquiring an additional 123,994 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Main Street Capital by 7,077.4% during the 3rd quarter. International Assets Investment Management LLC now owns 112,182 shares of the financial services provider’s stock valued at $5,625,000 after acquiring an additional 110,619 shares during the period. Finally, Adell Harriman & Carpenter Inc. increased its stake in shares of Main Street Capital by 26.9% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider’s stock worth $20,459,000 after purchasing an additional 85,995 shares during the last quarter. Hedge funds and other 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.