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B. Riley Securities Downgrades Main Street Capital Corporation (MAIN) to a Neutral from a Buy

Main Street Capital Corporation’s recently made public that its MANAGING DIRECTOR Meserve Nicholas unloaded Company’s shares for reported $0.28 million on Mar 07 ’24. In the deal valued at $45.96 per share,6,000 shares were sold. As a result of this transaction, Meserve Nicholas now holds 83,291 shares worth roughly $4.28 million.

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Then, Meserve Nicholas sold 6,000 shares, generating $258,084 in total proceeds. Upon selling the shares at $43.01, the MANAGING DIRECTOR now owns 89,210 shares.

B. Riley Securities downgraded its Main Street Capital Corporation [MAIN] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Hovde Group’s analysts, who increased its forecast for the stock in late June from “a Market perform” to “an Outperform”. UBS began covering MAIN with “Neutral” recommendation on December 19, 2022. B. Riley Securities started covering the stock on December 12, 2022. It rated MAIN as “a Buy”.

Price Performance Review of MAIN

On Tuesday, Main Street Capital Corporation [NYSE:MAIN] saw its stock jump 1.78% to $51.40. Over the last five days, the stock has gained 3.46%. Main Street Capital Corporation shares have risen nearly 20.40% since the year began. Nevertheless, the stocks have risen 31.74% over the past one year. While a 52-week high of $51.00 was reached on 07/02/24, a 52-week low of $36.99 was recorded on 01/11/24. SMA at 50 days reached $49.36, while 200 days put it at $44.76.

Levels Of Support And Resistance For MAIN Stock

The 24-hour chart illustrates a support level at 50.73, which if violated will result in even more drops to 50.05. On the upside, there is a resistance level at 51.75. A further resistance level may holdings at 52.09. The Relative Strength Index (RSI) on the 14-day chart is 75.53, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.98, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 0.78%. Stochastics%K at 86.02% indicates the stock is a selling.

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