Main Street Capital (NYSE:MAIN) Raised to Hold at Zacks Research

Main Street Capital (NYSE:MAIN) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada decreased their target price 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. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Citizens Jmp lowered their price objective on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Wells Fargo & Company started coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 target price on the stock. Finally, Truist Financial decreased their price target on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research note on Tuesday, May 19th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Main Street Capital currently has a consensus rating of “Hold” and an average target price of $59.33.

Main Street Capital Trading Down 0.8%

NYSE:MAIN opened at $54.17 on Monday. The company has a 50-day moving average price of $51.63 and a 200-day moving average price of $55.65. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $67.77. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 11.40 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The company had revenue of $73.44 million for the quarter, compared to analysts’ expectations of $145.23 million. Equities analysts predict that Main Street Capital will post 3.79 EPS for the current year.

Insider Buying and Selling at Main Street Capital

In other news, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction dated Tuesday, June 30th. The stock was 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 of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. 3.83% of the stock is owned by insiders.

Institutional Trading of Main Street Capital

A number of institutional investors and hedge funds have recently bought and sold shares of MAIN. Brighton Jones LLC purchased a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $304,000. NewEdge Advisors LLC lifted its position in Main Street Capital by 5,416.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,655 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 1,625 shares in the last quarter. Guggenheim Capital LLC lifted its position in Main Street Capital by 4.8% in the 2nd quarter. Guggenheim Capital LLC now owns 12,492 shares of the financial services provider’s stock valued at $738,000 after acquiring an additional 570 shares in the last quarter. First Trust Advisors LP boosted its stake in Main Street Capital by 2.3% during the 2nd quarter. First Trust Advisors LP now owns 188,296 shares of the financial services provider’s stock valued at $11,128,000 after purchasing an additional 4,317 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Main Street Capital in the 2nd quarter worth $228,000. 20.31% of the stock is currently owned by 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.