Main Street Capital (NYSE:MAIN) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Main Street Capital (NYSE:MAIN) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Wall Street Zen lowered shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Truist Financial decreased their price objective on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company started coverage on shares of Main Street Capital in a report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.33.

Main Street Capital Stock Down 0.8%

NYSE MAIN opened at $54.17 on Monday. Main Street Capital has a 1-year low of $48.95 and a 1-year high of $67.77. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 11.40 and a beta of 0.72. The stock’s 50 day moving average is $51.63 and its two-hundred day moving average is $55.65. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11.

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 company had revenue of $73.44 million during the quarter, compared to analyst estimates of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Equities analysts forecast that Main Street Capital will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Main Street Capital’s dividend payout ratio (DPR) is currently 66.95%.

Insiders Place Their Bets

In related news, EVP Jason B. Beauvais sold 6,830 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the transaction, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Main Street Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Garner Asset Management Corp bought a new stake in Main Street Capital during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC raised its stake in shares of Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. Sankala Group LLC acquired a new position in Main Street Capital in the fourth quarter valued at approximately $29,000. Gilpin Wealth Management LLC acquired a new position in Main Street Capital in the fourth quarter valued at approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in Main Street Capital in the second quarter valued at approximately $28,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.