Main Street Capital Corporation (NYSE:MAIN) Given Average Recommendation of “Hold” by Analysts

Main Street Capital Corporation (NYSE:MAIN) has been given a consensus recommendation of “Hold” by the ten research firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $60.8333.

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada lowered 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 research report on Thursday, May 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a report on Monday, August 10th.

Insider Buying and Selling

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

Institutional Trading of Main Street Capital

Hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP increased its holdings in shares of Main Street Capital by 43.1% during the second quarter. Corient Private Wealth LP now owns 21,892 shares of the financial services provider’s stock valued at $1,136,000 after purchasing an additional 6,593 shares during the period. Greenland Capital Management LP grew its position in Main Street Capital by 48.1% in the 2nd quarter. Greenland Capital Management LP now owns 16,000 shares of the financial services provider’s stock valued at $830,000 after buying an additional 5,200 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in Main Street Capital in the 2nd quarter valued at about $121,000. Wedmont Private Capital bought a new position in Main Street Capital in the 2nd quarter valued at about $894,000. Finally, HB Wealth Management LLC increased its stake in Main Street Capital by 8.3% during the 2nd quarter. HB Wealth Management LLC now owns 14,521 shares of the financial services provider’s stock valued at $753,000 after buying an additional 1,113 shares during the period. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $58.91 on Tuesday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $55.09 and a two-hundred day moving average of $54.53. Main Street Capital has a 52 week low of $48.95 and a 52 week high of $67.34. The company has a market cap of $5.51 billion, a P/E ratio of 11.88 and a beta of 0.71.

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

Main Street Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be paid a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) annualized dividend and a dividend yield of 5.4%. Main Street Capital’s dividend payout ratio (DPR) is presently 64.11%.

About Main Street Capital

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.