Main Street Capital (MAIN) Cut to “Hold” at Zacks Investment Research

Main Street Capital (NYSE:MAIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, November 9th.

According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “

A number of other brokerages have also recently commented on MAIN. Raymond James Financial upgraded shares of Main Street Capital from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 7th. National Securities restated a “sell” rating and set a $33.00 price target on shares of Main Street Capital in a report on Monday, November 6th. BidaskClub raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, ValuEngine upgraded Main Street Capital from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Main Street Capital currently has a consensus rating of “Hold” and a consensus target price of $39.15.

Main Street Capital (MAIN) traded up $0.01 during trading on Thursday, reaching $40.56. 130,911 shares of the company were exchanged, compared to its average volume of 235,041. The firm has a market cap of $2,300.00, a price-to-earnings ratio of 17.50 and a beta of 1.05. Main Street Capital has a 1 year low of $35.25 and a 1 year high of $41.79. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.20.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $51.79 million for the quarter, compared to the consensus estimate of $50.89 million. Main Street Capital had a net margin of 79.87% and a return on equity of 10.14%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. equities analysts expect that Main Street Capital will post 2.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of MAIN. Tower Research Capital LLC TRC purchased a new position in shares of Main Street Capital in the second quarter valued at approximately $119,000. V Wealth Management LLC acquired a new stake in shares of Main Street Capital in the second quarter valued at approximately $139,000. US Bancorp DE increased its stake in Main Street Capital by 15.6% during the second quarter. US Bancorp DE now owns 3,707 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 500 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Main Street Capital by 59.1% during the third quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 1,727 shares during the last quarter. Finally, Good Life Advisors LLC acquired a new stake in Main Street Capital during the third quarter worth $203,000. Hedge funds and other institutional investors own 27.20% of the company’s stock.

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Main Street Capital Company Profile

Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.

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