Main Street Capital Corporation (NYSE:MAIN) Receives Average Recommendation of “Hold” from Brokerages

Main Street Capital Corporation (NYSE:MAIN) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $59.3333.

A number of equities analysts have commented on MAIN shares. Truist Financial reduced their target price on shares of Main Street Capital from $60.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, May 19th. Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 22nd. Citizens Jmp cut their price objective on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company began 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 for the company. Finally, Royal Bank Of Canada decreased their target price on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th.

Main Street Capital Trading Down 0.4%

Shares of NYSE:MAIN opened at $55.33 on Monday. The company has a market capitalization of $5.15 billion, a PE ratio of 11.65 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 has a 12-month low of $48.95 and a 12-month high of $67.77. The business’s fifty day simple moving average is $51.56 and its 200-day simple moving average is $55.77.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The company had revenue of $73.44 million for the quarter, compared to analysts’ expectations of $145.23 million. As a group, equities research analysts predict that Main Street Capital will post 3.78 earnings per share for the current fiscal year.

Main Street Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given 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 5.7%. Main Street Capital’s dividend payout ratio is presently 66.95%.

Insider Activity at Main Street Capital

In other news, EVP Jason B. Beauvais sold 6,830 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total value of $353,315.90. Following the completion of the sale, the executive vice president owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Garner Asset Management Corp purchased a new stake in shares of Main Street Capital during the fourth quarter worth about $28,000. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Main Street Capital in the 2nd quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its position in shares of Main Street Capital by 109.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Sankala Group LLC acquired a new stake in Main Street Capital in the 4th quarter worth approximately $29,000. Finally, Investors Research Corp acquired a new stake in Main Street Capital in the 4th quarter worth approximately $30,000. 20.31% of the stock is owned by institutional investors and hedge funds.

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.