Main Street Capital Corporation (NYSE:MAIN) Given Average Rating of “Hold” by Brokerages

Main Street Capital Corporation (NYSE:MAIN) has been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $59.1429.

MAIN has been the subject of several research analyst reports. Zacks Research downgraded shares of Main Street Capital from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Citizens Jmp cut their target price on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Weiss Ratings downgraded shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Truist Financial cut their target price on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a research report on Tuesday, May 19th. Finally, Wells Fargo & Company began coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 target price for the company.

Institutional Investors Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in Main Street Capital by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after buying an additional 162,580 shares in the last quarter. Van ECK Associates Corp lifted its position in Main Street Capital by 100.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock worth $155,681,000 after buying an additional 1,229,863 shares in the last quarter. Corient Private Wealth LLC lifted its position in Main Street Capital by 3,880.8% in the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider’s stock worth $53,774,000 after buying an additional 868,092 shares in the last quarter. UBS Group AG lifted its position in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after buying an additional 534,374 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Main Street Capital by 15.2% in the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider’s stock worth $43,479,000 after buying an additional 95,177 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Down 1.6%

Shares of NYSE:MAIN opened at $50.65 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $4.71 billion, a PE ratio of 10.66 and a beta of 0.72. Main Street Capital has a 52 week low of $48.95 and a 52 week high of $67.77. The firm has a 50 day simple moving average of $52.83 and a 200 day simple moving average of $57.04.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.11). The firm had revenue of $73.44 million during 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, research analysts expect that Main Street Capital will post 3.78 earnings per share for the current year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be given a $0.265 dividend. The ex-dividend date is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a yield of 6.3%. Main Street Capital’s dividend payout ratio is presently 65.68%.

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.