SMH Capital Advisors Inc. Makes New $1.22 Million Investment in Main Street Capital Corporation $MAIN

SMH Capital Advisors Inc. acquired a new stake in Main Street Capital Corporation (NYSE:MAIN) in the third quarter, HoldingsChannel reports. The fund acquired 22,095 shares of the financial services provider’s stock, valued at approximately $1,216,000. Main Street Capital comprises 4.6% of SMH Capital Advisors Inc.’s holdings, making the stock its 6th largest position.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Main Street Capital in the 2nd quarter valued at about $43,323,000. BlackRock Inc. bought a new position in Main Street Capital during the second quarter worth about $20,940,000. Bank of America Corp DE bought a new position in Main Street Capital during the second quarter worth about $6,094,000. Beacon Pointe Advisors LLC bought a new position in Main Street Capital during the second quarter worth about $5,665,000. Finally, Fund Advisors of America Inc FL acquired a new position in Main Street Capital during the second quarter worth approximately $2,996,000. 20.31% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Price Performance

Main Street Capital stock opened at $56.30 on Tuesday. Main Street Capital Corporation has a 12 month low of $48.95 and a 12 month high of $65.23. The stock’s 50 day moving average is $55.67 and its 200-day moving average is $55.54. 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 company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 13.79 and a beta of 0.74.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The business had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Equities research analysts expect that Main Street Capital Corporation will post 3.75 EPS for the current year.

Insider Buying and Selling

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 cost of $59.05 per share, with a total value of $150,577.50. Following the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. This represents a 12.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MAIN shares. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Truist Financial raised their price objective on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Weiss Ratings raised Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.00.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.