Noteworthy Price Action: Does Main Street Capital Corporation Have More Gas After Achieving 52-Week High?

Noteworthy Price Action: Does Main Street Capital Corporation Have More Gas After Achieving 52 Week High?

The stock of Main Street Capital Corporation (NYSE:MAIN) hit a new 52-week high and has $49.33 target or 34.00% above today’s $36.81 share price. The 7 months bullish chart indicates low risk for the $2.05B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $49.33 price target is reached, the company will be worth $697.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.25% or $0.81 on November 11, hitting $36.81. About 463,459 shares traded hands or 81.40% up from the average. Main Street Capital Corporation (NYSE:MAIN) has risen 16.24% since April 11, 2016 and is uptrending. It has outperformed by 10.10% the S&P500.

Main Street Capital Corporation (NYSE:MAIN) Ratings Coverage

Out of 2 analysts covering Street Capital Group (NYSE:MAIN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Street Capital Group has been the topic of 6 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks to “Hold” on Tuesday, August 11. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, August 11. RBC Capital Markets initiated it with “Outperform” rating and $32.0 target price in Tuesday, September 22 report. National Securities maintained it with “Neutral” rating and $34 target price in Friday, August 7 report. The firm earned “Neutral” rating on Wednesday, April 27 by Janney Capital. National Bank Canada maintained Main Street Capital Corporation (NYSE:MAIN) rating on Friday, August 7. National Bank Canada has “Outperform” rating and $2.50 price target.

According to Zacks Investment Research, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies.”

Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.53, from 0.87 in 2016Q1. The ratio increased, as 11 funds sold all Main Street Capital Corporation shares owned while 36 reduced positions. 12 funds bought stakes while 54 increased positions. They now own 10.88 million shares or 49.16% less from 21.40 million shares in 2016Q1.
Moreover, King Luther Cap Mngmt has 0.01% invested in Main Street Capital Corporation (NYSE:MAIN) for 37,130 shares. Mckinley Cap Management Limited Liability Com Delaware reported 19,599 shares or 0.03% of all its holdings. Jpmorgan Chase & Co holds 3,912 shares or 0% of its portfolio. California Pub Employees Retirement Systems holds 0.01% or 99,600 shares in its portfolio. Farmers & Merchants Invests has invested 0% of its portfolio in Main Street Capital Corporation (NYSE:MAIN). Robeco Institutional Asset Management Bv holds 0.05% of its portfolio in Main Street Capital Corporation (NYSE:MAIN) for 212,175 shares. Regal Advsrs Ltd Liability Corp, a Michigan-based fund reported 9,306 shares. Moreover, Sequent Asset Mgmt Limited Liability Company has 0.61% invested in Main Street Capital Corporation (NYSE:MAIN) for 27,739 shares. Susquehanna Intl Gp Limited Liability Partnership last reported 0% of its portfolio in the stock. Financial Bank Of Montreal Can holds 201,617 shares or 0.01% of its portfolio. Yorktown Mgmt Rech Co Incorporated has 1.49% invested in the company for 200,000 shares. Cetera Limited Co, a Colorado-based fund reported 26,107 shares. Legal General Gp Public Lc accumulated 0% or 103,274 shares. Clearbridge Limited Liability Corp reported 318,218 shares or 0.21% of all its holdings. Northern has 32,415 shares for 0% of their US portfolio.

More important recent Main Street Capital Corporation (NYSE:MAIN) news were published by: Fool.com which released: “Should You Buy Main Street Capital Corporation?” on September 07, 2016, also Fool.com published article titled: “Main Street Capital Corporation: A Deeper Look”, Fool.com published: “Main Street Capital Corporation in Stock in 3 Charts” on March 21, 2016. More interesting news about Main Street Capital Corporation (NYSE:MAIN) was released by: Fool.com and their article: “Main Street Capital Corporation Q2 Earnings Breakdown” with publication date: August 11, 2016.

MAIN Company Profile

Main Street Capital Corporation (MSCC), incorporated on March 9, 2007, is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors. MSCC partners with entrepreneurs, business owners and management teams and generally provides financing alternatives within its LMM portfolio. The Firm invests primarily in secured debt investments, equity investments, warrants and other securities of LMM companies based in the United States and in secured debt investments of Middle Market companies generally headquartered in the United States. The Company’s investment portfolio includes its investments in LMM portfolio companies, investments in Middle Market portfolio companies, Private Loan portfolio investments, Other Portfolio investments, and the investment in MSC Adviser I, LLC (the External Investment Manager).

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