Main Street Capital (NYSE:MAIN) Upgraded at Zacks Research

Zacks Research upgraded shares of Main Street Capital (NYSE:MAIN) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on MAIN. Wells Fargo & Company initiated coverage on shares of Main Street Capital in a research note on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price objective on the stock. Citizens Jmp lowered 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 note on Wednesday, April 22nd. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Royal Bank Of Canada cut their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Finally, Weiss Ratings lowered Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 22nd. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.33.

Main Street Capital Trading Down 1.0%

Shares of MAIN stock opened at $53.66 on Monday. The firm has a 50-day moving average price of $51.68 and a 200 day moving average price of $55.61. Main Street Capital has a twelve month low of $48.95 and a twelve month high of $67.77. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 11.30 and a beta of 0.72. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Main Street Capital will post 3.79 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Main Street Capital’s dividend payout ratio is currently 66.95%.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total value of $353,315.90. Following the sale, the executive vice president directly owned 196,185 shares of the company’s stock, valued at approximately $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Main Street Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bay Rivers Group acquired a new position in Main Street Capital during the second quarter worth approximately $203,000. Focus Financial Network Inc. boosted its holdings in shares of Main Street Capital by 9.2% in the 2nd quarter. Focus Financial Network Inc. now owns 46,751 shares of the financial services provider’s stock valued at $2,425,000 after purchasing an additional 3,932 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Main Street Capital during the 2nd quarter valued at $28,000. Confluence Investment Management LLC grew its stake in shares of Main Street Capital by 2.8% during the 2nd quarter. Confluence Investment Management LLC now owns 93,486 shares of the financial services provider’s stock valued at $4,850,000 after buying an additional 2,528 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $139,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

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.