Main Street Capital Valuation: Fresh Look After Volatility and Long-Term Return Strength

Main Street Capital's share price has rebounded this month, despite a volatile few months. Long-term returns remain strong, with a 15.26% 1-year total shareholder return and triple-digit 3-year and 5-year returns. The stock is trading near analyst targets and has a narrative fair value of $60.67, indicating a modest upside. However, there are concerns about the company's increasing investments in new lower middle market platforms and potential margin compression.