Main Street Capital Corporation (NYSE:MAIN) Receives Average Rating of “Hold” from Brokerages

Shares of Main Street Capital Corporation (NYSE:MAIN) have been given a consensus rating of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $60.83.

Several equities research analysts have recently weighed in on MAIN shares. Truist Financial increased their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Wells Fargo & Company upped their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Finally, Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th.

Main Street Capital Price Performance

Main Street Capital stock opened at $55.05 on Friday. The stock’s 50 day moving average is $56.75 and its 200 day moving average is $54.29. Main Street Capital has a one year low of $48.95 and a one year high of $65.23. The firm has a market cap of $5.15 billion, a P/E ratio of 11.10 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The business had revenue of $327.56 million during the quarter, compared to the consensus estimate of $144.59 million. As a group, research analysts expect that Main Street Capital will post 3.77 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a $0.2650 dividend. This represents a $3.18 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, December 8th. Main Street Capital’s payout ratio is presently 64.11%.

Insider Buying and Selling

In other Main Street Capital news, EVP Jason Beauvais sold 6,830 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the transaction, the executive vice president directly owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Ryan Mchugh purchased 2,550 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. This represents a 12.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAIN. Sequoia Financial Advisors LLC raised its holdings in shares of Main Street Capital by 8.9% during the second quarter. Sequoia Financial Advisors LLC now owns 6,691 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 549 shares during the period. NewEdge Advisors LLC grew its stake in shares of Main Street Capital by 8.3% in the 2nd quarter. NewEdge Advisors LLC now owns 44,558 shares of the financial services provider’s stock valued at $2,312,000 after buying an additional 3,415 shares during the period. Squarepoint Ops LLC increased its position in Main Street Capital by 57.4% in the 2nd quarter. Squarepoint Ops LLC now owns 38,187 shares of the financial services provider’s stock valued at $1,981,000 after buying an additional 13,932 shares in the last quarter. Baird Financial Group Inc. increased its position in Main Street Capital by 6.4% in the 2nd quarter. Baird Financial Group Inc. now owns 20,764 shares of the financial services provider’s stock valued at $1,077,000 after buying an additional 1,241 shares in the last quarter. Finally, Corient Private Wealth LP raised its stake in Main Street Capital by 43.1% during the 2nd quarter. Corient Private Wealth LP now owns 21,892 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 6,593 shares during the period. 20.31% of the stock is owned by institutional investors.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company focuses primarily on lower middle market companies that may require growth capital, acquisition financing, recapitalization funding or other forms of strategic financing.

Main Street’s investment offerings include first-lien, second-lien and unitranche debt investments, as well as equity investments and warrants. It also provides senior secured private loans to larger middle market companies through its middle market investment strategy.