Main Street Capital (NYSE:MAIN) Hits New 52-Week High - Here's What Happened

Main Street Capital Co. (NYSE:MAIN - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $61.42 and last traded at $61.32, with a volume of 196580 shares trading hands. The stock had previously closed at $60.72.

Analyst Upgrades and Downgrades

Separately, B. Riley raised their target price on 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $48.80.

Main Street Capital Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $5.46 billion, a PE ratio of 11.22 and a beta of 1.28. The company has a fifty day moving average price of $57.68 and a 200 day moving average price of $53.01.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, November 7th. The financial services provider reported $1.00 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.02). The firm had revenue of $136.82 million during the quarter, compared to the consensus estimate of $137.57 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. During the same period in the prior year, the company earned $1.04 EPS. As a group, analysts anticipate that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.30 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Friday, February 7th. Main Street Capital's dividend payout ratio (DPR) is presently 54.35%.

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Benjamin Edwards Inc. lifted 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 valued at $7,078,000 after purchasing an additional 127,988 shares during the last quarter. Joel Isaacson & Co. LLC boosted its position in Main Street Capital by 3,098.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 127,996 shares of the financial services provider's stock valued at $6,418,000 after buying an additional 123,994 shares during the period. International Assets Investment Management LLC grew its holdings in Main Street Capital by 7,077.4% in the 3rd quarter. International Assets Investment Management LLC now owns 112,182 shares of the financial services provider's stock worth $5,625,000 after acquiring an additional 110,619 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Main Street Capital by 7.8% in the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock valued at $75,469,000 after acquiring an additional 92,833 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of Main Street Capital during the fourth quarter valued at about $2,626,000. 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.