Main Street Capital Corporation (NYSE:MAIN) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Main Street Capital Corporation (NYSE:MAIN) has received a consensus recommendation of "Hold" from five ratings firms, with four holding this rating and one providing a strong buy recommendation.
• The company recently declared a monthly dividend of $0.255, which will be paid on December 15th, representing an annualized yield of 4.7%.
• Main Street Capital's stock has a recent price target range set by brokerages between $58.00 and $64.00, with the current trading price at around $65.70.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $59.75.

Several brokerages recently weighed in on MAIN. Zacks Research raised shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. B. Riley boosted their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Monday. Truist Financial boosted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research note on Monday, August 11th. UBS Group reissued a "neutral" rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd.

Main Street Capital Trading Up 0.1%

NYSE:MAIN opened at $65.70 on Friday. The company has a market capitalization of $5.88 billion, a PE ratio of 10.82 and a beta of 0.85. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The stock has a fifty day simple moving average of $62.71 and a 200-day simple moving average of $58.62.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, equities research analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.255 dividend. The ex-dividend date is Monday, December 8th. This represents a c) annualized dividend and a yield of 4.7%. Main Street Capital's payout ratio is 50.41%.

Insider Activity

In other Main Street Capital news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the sale, the director owned 82,383 shares in the company, valued at $5,532,018.45. The trade was a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason B. Beauvais sold 13,664 shares of Main Street Capital stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the completion of the sale, the executive vice president owned 181,526 shares of the company's stock, valued at $10,777,198.62. This trade represents a 7.00% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Institutional Trading of Main Street Capital

A number of institutional investors and hedge funds have recently bought and sold shares of MAIN. Smartleaf Asset Management LLC increased its position in Main Street Capital by 109.6% during the 2nd 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 in the last quarter. Financial Network Wealth Advisors LLC purchased a new position in Main Street Capital in the 1st quarter worth approximately $39,000. Spire Wealth Management purchased a new position in Main Street Capital in the 1st quarter worth approximately $40,000. Wellington Shields & Co. LLC purchased a new position in Main Street Capital in the 1st quarter worth approximately $41,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Main Street Capital in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.

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