Main Street Capital Corporation (NYSE:MAIN) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Main Street Capital: seven of ten analysts rate the stock Hold and three rate it Buy, with an average 12-month price target of $60.83.
• Main Street Capital reported quarterly EPS of $0.97, slightly exceeding the $0.96 consensus estimate, while revenue reached $327.56 million. The stock opened at $58.91 and has a 12-month trading range of $48.95 to $67.34.
• The company declared a monthly dividend of $0.265 per share, representing a 5.4% annualized yield, with shareholders of record on December 8 eligible for payment on December 15.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) has been given an average recommendation of "Hold" by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $60.8333.

MAIN has been the topic of several recent analyst reports. Wall Street Zen cut Main Street Capital from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Weiss Ratings lowered Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Zacks Research upgraded Main Street Capital from a "strong sell" rating to a "hold" rating in a report on Monday, July 20th. Truist Financial upped their target price on Main Street Capital from $53.00 to $57.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company raised their price target on shares of Main Street Capital from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th.

Main Street Capital Stock Performance

Main Street Capital stock opened at $58.91 on Tuesday. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $67.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.88 and a beta of 0.71. The firm's fifty day moving average price is $55.09 and its 200 day moving average price is $54.53.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. The company had revenue of $327.56 million during the quarter, compared to analysts' expectations of $144.59 million. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. On average, research analysts forecast that Main Street Capital will post 3.77 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 8th will be issued a dividend of $0.265 per share. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Tuesday, December 8th. Main Street Capital's dividend payout ratio (DPR) is currently 64.11%.

Insider Activity

In related news, CAO Ryan Mchugh bought 2,550 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $59.05 per share, for a total transaction of $150,577.50. Following the purchase, the chief accounting officer owned 22,647 shares in the company, valued at $1,337,305.35. This trade represents a 12.69% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $51.73, for a total transaction of $353,315.90. Following the transaction, the executive vice president directly owned 196,185 shares in the company, valued at $10,148,650.05. The trade was a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MAIN. Garner Asset Management Corp acquired a new stake in shares of Main Street Capital during the 4th quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB bought a new position in Main Street Capital during the second quarter worth $28,000. Smartleaf Asset Management LLC boosted its holdings in 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 worth $28,000 after purchasing an additional 250 shares during the period. Sankala Group LLC acquired a new position in Main Street Capital in the fourth quarter worth $29,000. Finally, Gilpin Wealth Management LLC bought a new stake in Main Street Capital during the fourth quarter valued at $31,000. 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.

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