Main Street Capital (NYSE:MAIN) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Main Street Capital (NYSE:MAIN) from a hold rating to a buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $47.00 price target on the financial services provider’s stock.
According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “
Separately, National Securities reaffirmed a sell rating and set a $4.00 price objective on shares of Prospect Capital in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Main Street Capital currently has an average rating of Hold and an average target price of $40.20.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $60.33 million. Main Street Capital had a net margin of 73.33% and a return on equity of 10.70%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. On average, equities analysts forecast that Main Street Capital will post 2.54 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, August 20th will be paid a $0.205 dividend. The ex-dividend date is Monday, August 19th. This represents a $2.46 dividend on an annualized basis and a yield of 5.85%. Main Street Capital’s dividend payout ratio is currently 94.62%.
Institutional investors have recently added to or reduced their stakes in the stock. Hamilton Point Investment Advisors LLC boosted its stake in Main Street Capital by 1.1% during the 2nd quarter. Hamilton Point Investment Advisors LLC now owns 54,736 shares of the financial services provider’s stock worth $2,262,000 after purchasing an additional 620 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Main Street Capital by 2.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 45,009 shares of the financial services provider’s stock valued at $1,851,000 after buying an additional 1,225 shares during the last quarter. Taylor Frigon Capital Management LLC purchased a new position in shares of Main Street Capital during the 2nd quarter valued at approximately $998,000. NEXT Financial Group Inc boosted its stake in shares of Main Street Capital by 7,709.5% during the 2nd quarter. NEXT Financial Group Inc now owns 15,619 shares of the financial services provider’s stock valued at $642,000 after buying an additional 15,419 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Main Street Capital by 31.1% during the 2nd quarter. Sound Income Strategies LLC now owns 581,294 shares of the financial services provider’s stock valued at $23,903,000 after buying an additional 137,932 shares during the last quarter. 22.47% of the stock is currently owned by hedge funds and other institutional investors.
About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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