SMH Capital Advisors Inc. Makes New $1.22 Million Investment in Main Street Capital Corporation $MAIN

Key Points

• SMH Capital Advisors initiated a $1.22 million position in Main Street Capital during the third quarter, making MAIN approximately 4.6% of its portfolio. Institutional investors collectively own 20.31% of the company.
• Main Street Capital reported quarterly EPS of $0.97, slightly exceeding the $0.96 consensus estimate, while revenue reached $327.56 million versus analysts’ $144.59 million forecast.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $61, compared with the stock’s reported price of $56.30.

SMH Capital Advisors Inc. bought a new position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 22,095 shares of the financial services provider's stock, valued at approximately $1,216,000. Main Street Capital makes up approximately 4.6% of SMH Capital Advisors Inc.'s investment portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Partners Wealth Management LLC bought a new stake in shares of Main Street Capital in the third quarter valued at about $292,000. John Boyer Inc. acquired a new position in shares of Main Street Capital during the third quarter worth about $28,000. Lynch Investment Planning LLC acquired a new position in shares of Main Street Capital during the third quarter worth about $73,000. Latitude Advisors LLC bought a new position in shares of Main Street Capital during the third quarter worth about $136,000. Finally, Hourglass Capital LLC grew its holdings in shares of Main Street Capital by 0.3% during the third quarter. Hourglass Capital LLC now owns 122,050 shares of the financial services provider's stock worth $6,719,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company's stock.

Insider Buying and Selling at Main Street Capital

In related news, CAO Ryan Mchugh purchased 2,550 shares of the stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $59.05 per share, with a total value of $150,577.50. Following the transaction, the chief accounting officer directly owned 22,647 shares of the company's stock, valued at $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.83% of the stock is owned by company insiders.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $56.30 on Tuesday. 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 business has a 50-day moving average of $55.67 and a 200-day moving average of $55.54. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 13.79 and a beta of 0.74. Main Street Capital Corporation has a fifty-two week low of $48.95 and a fifty-two week high of $65.23.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its earnings results on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. The business had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. As a group, sell-side analysts predict that Main Street Capital Corporation will post 3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MAIN shares. UBS Group dropped their target price on Main Street Capital from $62.00 to $57.00 and set a "neutral" rating on the stock in a research report on Friday, October 9th. Truist Financial upped their price target on Main Street Capital from $53.00 to $57.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Zacks Research raised Main Street Capital from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings raised shares of Main Street Capital from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, September 3rd. Finally, Citigroup reiterated a "market outperform" rating on shares of Main Street Capital in a report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and a consensus price target of $61.00.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.

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