Main Street Capital Corporation (NYSE:MAIN) Stock Rated “Hold” by Wall Street Brokerages

Shares of Main Street Capital Corporation (NYSE:MAIN) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $60.83.

A number of research analysts have recently issued reports on MAIN shares. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Wells Fargo & Company upped their target price on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Truist Financial lifted their price target on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd.

Main Street Capital Price Performance

Shares of MAIN opened at $55.05 on Friday. The business’s fifty day moving average is $56.75 and its 200 day moving average is $54.29. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $65.23. 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 stock has a market cap of $5.15 billion, a P/E ratio of 11.10 and a beta of 0.72.

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

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be given a dividend of $0.2650 per share. The ex-dividend date of this dividend is Tuesday, December 8th. This represents a $3.18 annualized dividend and a dividend yield of 5.8%. Main Street Capital’s payout ratio is presently 64.11%.

Insider Buying and Selling at Main Street Capital

In related news, CAO Ryan Mchugh purchased 2,550 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the acquisition, the chief accounting officer 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 can be accessed through the SEC website. Also, EVP Jason Beauvais sold 6,830 shares of the stock in a transaction 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 directly owned 196,185 shares of the company’s stock, valued at $10,148,650.05. The trade was a 3.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Sankala Group LLC bought a new position in shares of Main Street Capital during the fourth quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Main Street Capital in the 2nd quarter valued at about $28,000. Manchester Capital Management LLC lifted its position in shares of Main Street Capital by 98.7% during the 4th quarter. Manchester Capital Management LLC now owns 596 shares of the financial services provider’s stock worth $36,000 after buying an additional 296 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Main Street Capital during the 1st quarter worth approximately $57,000. Finally, State of Wyoming purchased a new position in shares of Main Street Capital in the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company focuses primarily on lower middle market companies that may require growth capital, acquisition financing, recapitalization funding or other forms of strategic financing.

Main Street’s investment offerings include first-lien, second-lien and unitranche debt investments, as well as equity investments and warrants. It also provides senior secured private loans to larger middle market companies through its middle market investment strategy.