Main Street Capital (NYSE:MAIN) Upgraded to Hold at Wells Fargo & Company

Main Street Capital (NYSE:MAIN) was upgraded by Wells Fargo & Company to a “hold” rating in a report released on Friday,Zacks.com reports.

A number of other research firms have also commented on MAIN. Weiss Ratings lowered Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Royal Bank Of Canada lowered their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Citigroup reissued an “outperform” rating on shares of Main Street Capital in a research report on Tuesday, January 27th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Truist Financial lowered their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.14.

Main Street Capital Price Performance

Shares of MAIN opened at $49.59 on Friday. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $67.77. The business’s fifty day moving average is $53.77 and its 200 day moving average is $57.82. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.61 billion, a P/E ratio of 10.44 and a beta of 0.76.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). The firm had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Sell-side analysts anticipate that Main Street Capital will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Main Street Capital

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of Main Street Capital by 90.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock worth $24,320,000 after acquiring an additional 181,733 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Main Street Capital by 5,556.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,144 shares of the financial services provider’s stock worth $2,298,000 after acquiring an additional 35,505 shares during the period. Childress Capital Advisors LLC grew its stake in shares of Main Street Capital by 165.2% during the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock worth $17,739,000 after acquiring an additional 182,973 shares during the period. Brighton Jones LLC bought a new position in shares of Main Street Capital during the 4th quarter worth $304,000. Finally, Ameriflex Group Inc. bought a new position in shares of Main Street Capital during the 3rd quarter worth $1,250,000. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.