Main Street Capital Corporation (NYSE:MAIN) Receives Average Rating of “Hold” from Analysts

Shares of Main Street Capital Corporation (NYSE:MAIN) have received an average rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $59.1429.

Several analysts recently commented on the stock. Truist Financial cut their target price 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. Zacks Research lowered shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Citizens Jmp cut their target price on shares of 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. Finally, Wells Fargo & Company assumed coverage on shares of Main Street Capital in a research note on Friday, May 22nd. They set an “equal weight” rating and a $50.00 target price for the company.

Main Street Capital Trading Down 1.6%

Main Street Capital stock opened at $50.65 on Thursday. The firm has a 50 day simple moving average of $52.83 and a 200-day simple moving average of $57.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market capitalization of $4.71 billion, a PE ratio of 10.66 and a beta of 0.72. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $67.77.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data 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). The company had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. As a group, equities research analysts expect that Main Street Capital will post 3.78 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 8th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) annualized dividend and a yield of 6.3%. Main Street Capital’s dividend payout ratio is currently 65.68%.

Institutional Trading of Main Street Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAIN. Garner Asset Management Corp acquired a new stake in Main Street Capital during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its position in shares of Main Street Capital by 109.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Sankala Group LLC purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $29,000. Investors Research Corp purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $30,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Main Street Capital in the 4th quarter valued at approximately $31,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.