Is Main Street Capital Corporation (MAIN) a Sell? The Stock Formed Bearish Double Bottom Chart Pattern

April 22, 2018 - By Ellis Scott

Main Street Capital Corporation (NYSE:MAIN) Logo

Investors sentiment decreased to 1.05 in Q4 2017. Its down 0.28, from 1.33 in 2017Q3. It is negative, 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.
Regal Advsr Lc reported 7,514 shares. New York-based Focused Wealth Mgmt Inc has invested 0.21% in Main Street Capital Corporation (NYSE:MAIN). Greenwich Inv Management Incorporated reported 108,243 shares. Atlantic Trust Gru Lc reported 61,713 shares or 0.01% of all its holdings. Hudock Capital Group Llc has invested 0% of its portfolio in Main Street Capital Corporation (NYSE:MAIN). Navellier And Assoc Inc holds 0.04% or 5,582 shares. Cubist Systematic Strategies Limited Liability reported 11,510 shares stake. Callahan Advisors Ltd Liability accumulated 11,242 shares or 0.09% of the stock. Citigroup reported 0% stake. 140,377 were accumulated by Sumitomo Mitsui Asset Management. Citadel Advsrs Lc has 7,343 shares for 0% of their portfolio. Usca Ria Ltd Liability Com accumulated 372,087 shares. Jfs Wealth Advsrs Ltd Company holds 0% or 400 shares in its portfolio. Fifth Third Bancorp owns 7,200 shares or 0% of their US portfolio. Goldman Sachs Group owns 51,997 shares.

The chart of Main Street Capital Corporation (MAIN) shows a double bottom with $34.69 target or 7.00 % below today’s $37.30 share price. The 6 months chart pattern indicates high risk for the $2.19 billion company. It was reported on Apr, 22 by If the $34.69 price target is reached, the company will be worth $153.44M less. Double bottoms are rare but powerful chart patterns.

It closed at $37.3 lastly. It is down 0.58% since April 22, 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 after the close. 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 $35.26M for 15.54 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 7.77% above currents $37.3 stock price. Main Street Capital had 7 analyst reports since November 3, 2017 according to SRatingsIntel. On Sunday, November 5 the stock rating was maintained by RBC Capital Markets with “Buy”. The stock of Main Street Capital Corporation (NYSE:MAIN) has “Hold” rating given on Tuesday, November 7 by Raymond James. As per Tuesday, March 27, the company rating was initiated by FBR Capital. SunTrust maintained Main Street Capital Corporation (NYSE:MAIN) rating on Monday, February 26. SunTrust has “Hold” rating and $37.0 target. The firm earned “Hold” rating on Friday, November 3 by Robert W. Baird. The company was upgraded on Monday, February 26 by National Securities.

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

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