Main Street Capital (NYSE:MAIN) Upgraded to Hold at Wells Fargo & Company

Main Street Capital (NYSE:MAIN) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a report issued on Friday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a report on Tuesday, January 27th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citizens Jmp reduced their target price on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Weiss Ratings lowered Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Finally, Truist Financial dropped their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.14.

Main Street Capital Stock Down 2.8%

MAIN stock opened at $49.59 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.61 billion, a PE ratio of 10.44 and a beta of 0.76. Main Street Capital has a twelve month low of $48.95 and a twelve month high of $67.77. The stock has a 50-day simple moving average of $53.77 and a two-hundred day simple moving average of $57.82.

Main Street Capital (NYSE:MAIN) last posted its 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). The company had revenue of $73.44 million for the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. On average, equities analysts predict that Main Street Capital will post 3.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Garner Asset Management Corp purchased a new position in shares of Main Street Capital during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC lifted its position in 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 worth $28,000 after buying an additional 250 shares during the last quarter. Investors Research Corp bought a new stake in Main Street Capital in the 4th quarter worth approximately $30,000. Assetmark Inc. lifted its position in Main Street Capital by 203.0% in the 3rd quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock worth $32,000 after buying an additional 339 shares during the last quarter. Finally, Sankala Group LLC bought a new stake in Main Street Capital in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.