Main Street Capital (NYSE:MAIN) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Main Street Capital from “sell” to “hold.” Other analysts have also become more positive, resulting in a consensus “Moderate Buy” rating and an average price target of $61.67.
• Main Street Capital’s stock opened at $55.12, down 1.0%, with a market capitalization of approximately $5.15 billion. The company recently reported quarterly EPS of $0.97, narrowly beating estimates of $0.96.
• Insider and institutional activity was generally supportive: the chief accounting officer purchased 2,550 shares, while several investment firms increased their holdings. Insiders own 3.83% of the stock and institutions own 20.31%.

Main Street Capital (NYSE:MAIN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently commented on the stock. Weiss Ratings raised shares of Main Street Capital from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 3rd. Wells Fargo & Company upgraded Main Street Capital from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $55.00 to $60.00 in a research report on Tuesday. Truist Financial raised their target price on Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" rating in a research note on Monday, August 10th. Citigroup reiterated a "market outperform" rating on shares of Main Street Capital in a report on Monday, August 10th. Finally, Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.67.

Main Street Capital Stock Down 1.0%

Main Street Capital stock opened at $55.12 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. Main Street Capital has a 52-week low of $48.95 and a 52-week high of $65.23. The firm has a 50 day moving average price of $56.91 and a two-hundred day moving average price of $54.27. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 11.11 and a beta of 0.74.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Equities analysts predict that Main Street Capital will post 3.77 EPS for the current year.

Insider Buying and Selling at Main Street Capital

In other Main Street Capital news, CAO Ryan Mchugh purchased 2,550 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, with a total value of $150,577.50. Following the transaction, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. The trade was a 12.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.83% of the stock is owned by insiders.

Institutional Trading of Main Street Capital

Several institutional investors and hedge funds have recently modified their holdings of MAIN. CX Institutional purchased a new position in Main Street Capital during the 3rd quarter worth $65,000. Confluence Investment Management LLC lifted its position in shares of Main Street Capital by 2.7% during the third quarter. Confluence Investment Management LLC now owns 96,050 shares of the financial services provider's stock valued at $5,288,000 after purchasing an additional 2,564 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Main Street Capital by 8.9% during the second quarter. Sequoia Financial Advisors LLC now owns 6,691 shares of the financial services provider's stock worth $347,000 after purchasing an additional 549 shares during the last quarter. NewEdge Advisors LLC grew its position in Main Street Capital by 8.3% in the 2nd quarter. NewEdge Advisors LLC now owns 44,558 shares of the financial services provider's stock worth $2,312,000 after purchasing an additional 3,415 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Main Street Capital by 57.4% in the 2nd quarter. Squarepoint Ops LLC now owns 38,187 shares of the financial services provider's stock worth $1,981,000 after purchasing an additional 13,932 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company primarily supports lower middle market companies, as well as certain middle market businesses, that may require capital for growth, acquisitions, recapitalizations, refinancings, or ownership transitions.

Main Street typically invests in the form of secured debt, subordinated debt, equity investments, and warrants. Its lower middle market investments are often made in partnership with company owners and management teams, while its middle market activities generally involve providing longer-term debt capital to established businesses.

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