Main Street Capital (NYSE:MAIN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Main Street Capital (NYSE:MAIN – Get Rating) posted its earnings results on Thursday. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03, MarketWatch Earnings reports. Main Street Capital had a return on equity of 11.22% and a net margin of 114.43%. During the same quarter last year, the firm earned $0.58 EPS.

Shares of NYSE:MAIN traded up $0.83 during midday trading on Friday, reaching $40.54. The company had a trading volume of 398,240 shares, compared to its average volume of 322,225. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $41.62 and its 200 day moving average price is $43.18. The stock has a market cap of $2.91 billion, a PE ratio of 8.34, a P/E/G ratio of 1.80 and a beta of 1.32. Main Street Capital has a 1-year low of $37.91 and a 1-year high of $47.13.

The business also recently announced a monthly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be given a $0.215 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Thursday, September 1st. Main Street Capital’s dividend payout ratio is currently 53.09%.

MAIN has been the topic of several recent analyst reports. Hovde Group assumed coverage on Main Street Capital in a report on Monday, March 7th. They set a “market perform” rating and a $44.00 target price on the stock. TheStreet lowered Main Street Capital from a “b” rating to a “c+” rating in a report on Friday, February 25th. StockNews.com assumed coverage on Main Street Capital in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Zacks Investment Research lowered Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and an average price target of $44.83.

In other Main Street Capital news, insider David L. Magdol sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $42.46, for a total transaction of $2,123,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Earl Jackson purchased 1,800 shares of the stock in a transaction on Friday, March 25th. The shares were acquired at an average cost of $42.22 per share, for a total transaction of $75,996.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 150,010 shares of company stock worth $6,403,425. 4.56% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MAIN. Millennium Management LLC increased its position in Main Street Capital by 92.1% during the fourth quarter. Millennium Management LLC now owns 235,837 shares of the financial services provider’s stock worth $10,580,000 after buying an additional 113,098 shares during the last quarter. Morgan Stanley increased its position in Main Street Capital by 24.5% during the second quarter. Morgan Stanley now owns 538,140 shares of the financial services provider’s stock worth $22,112,000 after buying an additional 106,040 shares during the last quarter. BlackRock Inc. increased its position in Main Street Capital by 8.0% during the fourth quarter. BlackRock Inc. now owns 567,899 shares of the financial services provider’s stock worth $25,476,000 after buying an additional 42,039 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Main Street Capital by 27.3% in the fourth quarter. Advisors Asset Management Inc. now owns 76,070 shares of the financial services provider’s stock valued at $3,413,000 after purchasing an additional 16,334 shares during the last quarter. Finally, Credit Suisse AG acquired a new position in shares of Main Street Capital in the fourth quarter valued at approximately $426,000. 17.21% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Company Profile (Get Rating)

Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.

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