Main Street Capital (NYSE:MAIN) Stock Rating Upgraded by Zacks Research

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

A number of other equities analysts also recently issued reports on MAIN. Weiss Ratings downgraded 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 reduced their price objective 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. Truist Financial lowered their target price on Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Wells Fargo & Company started coverage on 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, Citizens Jmp cut their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.33.

Main Street Capital Stock Down 0.8%

MAIN opened at $54.17 on Monday. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 11.40 and a beta of 0.72. The firm 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 twelve month low of $48.95 and a twelve month high of $67.77. The company has a quick ratio of 0.06, a current 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 the consensus estimate of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The company had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Equities research analysts forecast that Main Street Capital will post 3.79 earnings per share for the current year.

Insider Buying and Selling at Main Street Capital

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 stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the transaction, the executive vice president directly owned 196,185 shares in the company, valued at approximately $10,148,650.05. The trade was a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Main Street Capital

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Main Street Capital by 6.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock valued at $165,135,000 after purchasing an additional 162,580 shares during the period. Corient Private Wealth LLC increased its stake in Main Street Capital by 3,880.8% in the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after buying an additional 868,092 shares in the last quarter. UBS Group AG raised its holdings in Main Street Capital by 160.7% during the third quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after acquiring an additional 534,374 shares during the period. Legal & General Group Plc raised its holdings in Main Street Capital by 15.2% during the fourth quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock valued at $43,479,000 after acquiring an additional 95,177 shares during the period. Finally, Adell Harriman & Carpenter Inc. lifted its position in shares of Main Street Capital by 1.3% in the first quarter. Adell Harriman & Carpenter Inc. now owns 484,584 shares of the financial services provider’s stock valued at $25,664,000 after acquiring an additional 6,149 shares in the last quarter. 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.