Zacks Research Downgrades Main Street Capital (NYSE:MAIN) to Strong Sell

Main Street Capital (NYSE:MAIN) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently weighed in on MAIN. Royal Bank Of Canada lowered their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Wells Fargo & Company began coverage on Main Street Capital in a research report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 target price on the stock. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Citizens Jmp lowered their target price on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and an average target price of $59.14.

Main Street Capital Stock Performance

Shares of MAIN opened at $51.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. Main Street Capital has a one year low of $48.95 and a one year high of $67.77. The firm has a market capitalization of $4.77 billion, a P/E ratio of 10.79 and a beta of 0.76. The business has a fifty day moving average of $53.35 and a 200 day moving average of $57.59.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts anticipate that Main Street Capital will post 3.78 EPS for the current year.

Hedge Funds Weigh In On Main Street Capital

Several large investors have recently made changes to their positions in MAIN. Garner Asset Management Corp purchased a new position in shares of Main Street Capital in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its position in shares of Main Street Capital by 109.6% in the second 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 in the last quarter. Sankala Group LLC purchased a new stake in shares of Main Street Capital in the fourth quarter worth about $29,000. Investors Research Corp purchased a new stake in shares of Main Street Capital in the fourth quarter worth about $30,000. Finally, Gilpin Wealth Management LLC purchased a new stake in shares of Main Street Capital in the fourth quarter worth about $31,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.