Main Street Capital’s (MAIN) Buy (B+) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their buy (b+) rating on shares of Main Street Capital (NYSE:MAIN) in a research note issued to investors on Tuesday morning,Weiss Ratings reports.

Other equities analysts also recently issued reports about the company. UBS Group restated a “neutral” rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Zacks Research downgraded Main Street Capital from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. Finally, B. Riley raised their price objective on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Hold” and a consensus target price of $61.20.

Main Street Capital Price Performance

Main Street Capital stock opened at $58.49 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.23 billion, a PE ratio of 9.64 and a beta of 0.87. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The stock has a 50-day moving average price of $64.37 and a two-hundred day moving average price of $59.84.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. Analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $1.20 annualized dividend and a yield of 2.1%. Main Street Capital’s dividend payout ratio (DPR) is currently 50.41%.

Insider Buying and Selling

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director owned 82,383 shares of the company’s stock, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Main Street Capital by 50.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,261 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 2,756 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in Main Street Capital by 10.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 242,857 shares of the financial services provider’s stock valued at $13,736,000 after acquiring an additional 22,340 shares during the period. Mackenzie Financial Corp acquired a new stake in Main Street Capital in the first quarter valued at approximately $578,000. Segment Wealth Management LLC grew its stake in Main Street Capital by 134.3% in the first quarter. Segment Wealth Management LLC now owns 117,994 shares of the financial services provider’s stock valued at $6,674,000 after acquiring an additional 67,626 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Main Street Capital in the first quarter valued at approximately $6,205,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company 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.