Main Street Capital Corporation (NYSE:MAIN – Get Free Report) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.8333.
A number of research analysts have recently commented on MAIN shares. Zacks Research upgraded Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Royal Bank Of Canada decreased their target price on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup reiterated a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Finally, Wells Fargo & Company raised their price objective on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 10th.
Get Our Latest Analysis on MAIN
Main Street Capital Price Performance
Main Street Capital (NYSE:MAIN – Get Free Report) last posted its earnings results on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Equities analysts expect that Main Street Capital will post 3.77 EPS for the current fiscal year.
Main Street Capital Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 8th will be given a $0.265 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital’s dividend payout ratio (DPR) is 64.11%.
Insider Buying and Selling at Main Street Capital
In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Ryan Mchugh acquired 2,550 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the acquisition, the chief accounting officer owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. The trade was a 12.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.83% of the stock is owned by company insiders.
Institutional Trading of Main Street Capital
Several institutional investors and hedge funds have recently made changes to their positions in the company. Garner Asset Management Corp acquired a new position in Main Street Capital during the fourth quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Main Street Capital in the second quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 250 shares during the period. Sankala Group LLC acquired a new stake in shares of Main Street Capital in the fourth quarter valued at approximately $29,000. Finally, Gilpin Wealth Management LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth approximately $31,000. 20.31% of the stock is owned by hedge funds and other institutional investors.
Main Street Capital Company Profile
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.
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