Main Street Capital Corporation (NYSE:MAIN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Main Street Capital Corporation (NYSE:MAIN) has received a consensus rating of “Moderate Buy”, with four analysts giving it a hold rating, two a buy rating, and one a strong buy rating.
• The company's latest quarterly earnings report indicated $0.99 per share, meeting analysts' expectations, with revenues of $143.97 million for the quarter.
• Main Street Capital has declared a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 2.2%, with the payment scheduled for October 15th.

Shares of Main Street Capital Corporation (NYSE:MAIN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $61.20.

A number of equities analysts have issued reports on the stock. 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. Zacks Research raised shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Truist Financial raised their price objective 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. B. Riley raised their price objective 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, August 18th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th.

Main Street Capital Price Performance

Shares of MAIN stock opened at $55.13 on Friday. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The stock has a market cap of $4.93 billion, a PE ratio of 9.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. The firm's 50 day moving average price is $64.62 and its two-hundred day moving average price is $59.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The firm had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, analysts forecast that Main Street Capital will post 4.11 EPS for the current year.

Main Street Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, October 8th. Main Street Capital's dividend payout ratio (DPR) is currently 50.41%.

Insider Buying and Selling at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the transaction, the director directly owned 82,383 shares of the company's stock, valued at $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Main Street Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Main Street Capital by 1.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 15,889 shares of the financial services provider's stock worth $939,000 after purchasing an additional 193 shares in the last quarter. Freedom Financial Partners LLC boosted its position in shares of Main Street Capital by 4.5% during the second quarter. Freedom Financial Partners LLC now owns 5,100 shares of the financial services provider's stock worth $301,000 after purchasing an additional 218 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Main Street Capital by 2.4% during the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider's stock worth $538,000 after purchasing an additional 221 shares in the last quarter. Uncommon Cents Investing LLC lifted its position in Main Street Capital by 1.4% in the 1st quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider's stock valued at $917,000 after acquiring an additional 231 shares in the last quarter. Finally, Sigma Planning Corp lifted its position in Main Street Capital by 0.5% in the 1st quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider's stock valued at $2,542,000 after acquiring an additional 236 shares in the last quarter. 20.31% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.