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

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

MAIN has been the topic of a number of other reports. Wells Fargo & Company started coverage on Main Street Capital in a research note on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 target price on the stock. Citizens Jmp dropped their price objective on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Truist Financial cut their price objective on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada reduced their target price on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.33.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $54.17 on Monday. The company has a market cap of $5.04 billion, a P/E ratio of 11.40 and a beta of 0.72. The business has a 50 day moving average of $51.63 and a two-hundred day moving average of $55.65. Main Street Capital has a 52 week low of $48.95 and a 52 week 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 announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $145.23 million. As a group, analysts anticipate that Main Street Capital will post 3.79 EPS for the current year.

Insider Activity

In other news, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction 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 transaction, the executive vice president directly owned 196,185 shares in the company, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its holdings in shares of Main Street Capital by 0.4% in the fourth quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider’s stock valued at $2,915,000 after purchasing an additional 194 shares in the last quarter. SMH Capital Advisors Inc. grew its holdings in shares of Main Street Capital by 1.1% during the fourth quarter. SMH Capital Advisors Inc. now owns 18,884 shares of the financial services provider’s stock valued at $1,140,000 after buying an additional 206 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Main Street Capital by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock valued at $325,000 after buying an additional 207 shares during the period. Lido Advisors LLC raised its position in Main Street Capital by 1.7% during the fourth quarter. Lido Advisors LLC now owns 12,520 shares of the financial services provider’s stock valued at $794,000 after buying an additional 209 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in Main Street Capital by 5.4% in the 4th quarter. State of Alaska Department of Revenue now owns 4,127 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 20.31% of the company’s stock.

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.