What’s Next for Main Street Capital Corporation (MAIN) After Forming Bearish Double Bottom Pattern?

April 17, 2018 - By Vivian Park

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 fall, 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.
61,713 are held by Atlantic Grp Incorporated Ltd Liability Corp. The Wisconsin-based Northwestern Mutual Wealth has invested 0% in Main Street Capital Corporation (NYSE:MAIN). Kistler, a Alabama-based fund reported 160 shares. Advisory Research reported 148,135 shares or 0.1% of all its holdings. Jfs Wealth Advsr Ltd Liability Corp accumulated 400 shares. Cubist Systematic Strategies Limited Liability Com accumulated 11,510 shares or 0.02% of the stock. M&T Bancorp Corporation accumulated 478,304 shares or 0.1% of the stock. Burgundy Asset Ltd invested in 1.91 million shares or 0.69% of the stock. Eqis Management holds 0.01% or 6,195 shares in its portfolio. The Illinois-based Guggenheim Ltd Limited Liability Company has invested 0.01% in Main Street Capital Corporation (NYSE:MAIN). Segment Wealth Limited Liability Corp reported 0.34% stake. Hl Ser Ltd holds 0.02% or 28,177 shares in its portfolio. Mcgowan Group Asset Management holds 2.7% of its portfolio in Main Street Capital Corporation (NYSE:MAIN) for 421,744 shares. Stratos Wealth invested 0.1% of its portfolio in Main Street Capital Corporation (NYSE:MAIN). Cibc Mkts invested in 20,255 shares or 0% of the stock.

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 Finviz.com. 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 EPS, 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 EPS 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. The stock of Main Street Capital Corporation (NYSE:MAIN) has “Hold” rating given on Tuesday, November 7 by Raymond James. RBC Capital Markets maintained Main Street Capital Corporation (NYSE:MAIN) rating on Sunday, November 5. RBC Capital Markets has “Buy” rating and $42.0 target. FBR Capital initiated the shares of MAIN in report on Tuesday, March 27 with “Buy” rating. The rating was upgraded by National Securities on Monday, February 26 to “Neutral”. SunTrust maintained Main Street Capital Corporation (NYSE:MAIN) rating on Monday, February 26. SunTrust has “Hold” rating and $37.0 target. Robert W. Baird maintained Main Street Capital Corporation (NYSE:MAIN) on Friday, November 3 with “Hold” rating.

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

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