Main Street Capital (NYSE:MAIN) Stock Gets Downgrade from Wall Street Zen

Main Street Capital (NYSE:MAIN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other research analysts also recently issued reports about the stock. Truist Financial boosted their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. UBS Group reduced their target price on shares of Main Street Capital from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wells Fargo & Company upgraded shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $60.00 in a research report on Tuesday, September 29th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Main Street Capital presently has an average rating of “Hold” and an average target price of $61.00.

Main Street Capital Price Performance

MAIN opened at $53.73 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.02 billion, a P/E ratio of 10.83 and a beta of 0.74. The stock has a 50-day moving average price of $56.86 and a 200-day moving average price of $54.23. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $65.23.

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

Insider Activity

In other news, CAO Ryan Mchugh acquired 2,550 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the transaction, the chief accounting officer owned 22,647 shares of the company’s stock, valued at $1,337,305.35. The trade was a 12.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

Large investors have recently modified their holdings of the business. Sankala Group LLC purchased a new position in shares of Main Street Capital in the 4th quarter worth about $29,000. MassMutual Private Wealth & Trust FSB bought a new position in Main Street Capital in the 2nd quarter worth about $28,000. Fifth Third Bancorp bought a new position in Main Street Capital in the 1st quarter worth about $57,000. CX Institutional purchased a new stake in Main Street Capital during the 3rd quarter valued at about $65,000. Finally, State of Wyoming purchased a new stake in Main Street Capital during the 1st quarter valued at about $65,000. 20.31% of the stock is owned by institutional investors.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company primarily supports lower middle market companies, as well as certain middle market businesses, that may require capital for growth, acquisitions, recapitalizations, refinancings, or ownership transitions.

Main Street typically invests in the form of secured debt, subordinated debt, equity investments, and warrants. Its lower middle market investments are often made in partnership with company owners and management teams, while its middle market activities generally involve providing longer-term debt capital to established businesses.