Could Main Street Capital Corporation (MAIN) Recover After Forming a Bearish Double Bottom?

April 17, 2018 - By Kurt Siggers

Main Street Capital Corporation (NYSE:MAIN) Logo

Investors sentiment decreased to 1.05 in 2017 Q4. Its down 0.28, from 1.33 in 2017Q3. It worsened, as 11 investors sold Main Street Capital Corporation shares while 45 reduced holdings. 14 funds opened positions while 45 raised stakes. 13.85 million shares or 2.43% less from 14.20 million shares in 2017Q3 were reported.
Sei Com reported 0% of its portfolio in Main Street Capital Corporation (NYSE:MAIN). New York-based Jane Street Group Inc Limited Com has invested 0% in Main Street Capital Corporation (NYSE:MAIN). Verity Asset Mngmt Incorporated accumulated 6,150 shares or 0.18% of the stock. Hudock Capital Group Lc reported 0% in Main Street Capital Corporation (NYSE:MAIN). Bank & Trust Of America De owns 0% invested in Main Street Capital Corporation (NYSE:MAIN) for 23,409 shares. First Republic Investment Mgmt owns 59,933 shares or 0.02% of their US portfolio. Dnb Asset Mgmt As invested in 0.03% or 62,212 shares. 196,471 were reported by Arrowstreet Cap Lp. Susquehanna International Grp Inc Llp stated it has 0% of its portfolio in Main Street Capital Corporation (NYSE:MAIN). Pinebridge Invs Lp owns 0.03% invested in Main Street Capital Corporation (NYSE:MAIN) for 24,718 shares. 579,487 were reported by Commercial Bank Of Montreal Can. Barnett Incorporated reported 50,357 shares. Polar Capital Llp invested in 0.04% or 99,914 shares. Shamrock Asset holds 0.05% in Main Street Capital Corporation (NYSE:MAIN) or 2,220 shares. Navellier And Incorporated reported 5,582 shares or 0.04% of all its holdings.

The chart of Main Street Capital Corporation (MAIN) shows a double bottom with $34.96 target or 7.00 % below today’s $37.59 share price. The 5 months chart pattern indicates high risk for the $2.21B company. It was reported on Apr, 17 by If the $34.96 price target is reached, the company will be worth $154.63 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.78% or $0.29 during the last trading session, reaching $37.59. About 121,457 shares traded. Main Street Capital Corporation (NYSE:MAIN) has risen 0.58% since April 17, 2017 and is uptrending. It has underperformed by 10.97% the S&P500.

Analysts await Main Street Capital Corporation (NYSE:MAIN) to report earnings on May, 3. They expect $0.60 earnings per share, up 7.14 % or $0.04 from last year’s $0.56 per share. MAIN’s profit will be $35.26 million for 15.66 P/E if the $0.60 EPS becomes a reality. After $0.64 actual earnings per share reported by Main Street Capital Corporation for the previous quarter, Wall Street now forecasts -6.25 % negative EPS growth.

Main Street Capital Corporation (NYSE:MAIN) Ratings Coverage

Among 7 analysts covering Main Street Capital (NYSE:MAIN), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Main Street Capital has $42.0 highest and $37.0 lowest target. $40.20’s average target is 6.94% above currents $37.59 stock price. Main Street Capital had 7 analyst reports since November 3, 2017 according to SRatingsIntel. FBR Capital initiated it with “Buy” rating and $4000 target in Tuesday, March 27 report. SunTrust maintained the stock with “Hold” rating in Monday, February 26 report. The stock has “Hold” rating by Robert W. Baird on Friday, November 3. RBC Capital Markets maintained the shares of MAIN in report on Sunday, November 5 with “Buy” rating. The firm has “Hold” rating by Raymond James given on Tuesday, November 7. The rating was upgraded by National Securities on Monday, February 26 to “Neutral”.

Main Street Capital Corporation (NYSE:MAIN) Institutional Positions Chart

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