Main Street Capital (NYSE:MAIN) Receives Buy (B+) Rating from Weiss Ratings

Key Points

• Main Street Capital (NYSE:MAIN) received a reaffirmed "buy (B+)" rating from Weiss Ratings, while analysts at UBS and RBC also adjusted their price targets for the stock.
• The company reported earnings of $0.99 per share for the latest quarter, matching analysts' expectations, with a net margin of 96.16% and revenue of $143.97 million.
• Recent insider trading saw Director Nicholas Meserve sell 14,000 shares valued at approximately $940,100, indicating a decrease in ownership of the stock.

Main Street Capital (NYSE:MAIN - Get Free Report)'s stock had its "buy (b+)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

MAIN has been the subject of several other reports. UBS Group reiterated a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, August 28th. B. Riley increased their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Zacks Research cut shares of Main Street Capital from a "strong-buy" rating to a "hold" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $61.20.

Main Street Capital Trading Up 3.3%

MAIN stock traded up $1.90 during trading on Tuesday, hitting $58.47. The company had a trading volume of 415,967 shares, compared to its average volume of 565,192. The business has a 50-day moving average of $64.47 and a 200-day moving average of $59.85. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The stock has a market cap of $5.23 billion, a PE ratio of 9.63 and a beta of 0.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12.

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. 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 during the quarter, compared to analyst estimates of $137.23 million. Research analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Insider Activity at Main Street Capital

In other news, Director Nicholas Meserve sold 14,000 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total value of $940,100.00. Following the completion of the transaction, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.09% of the company's stock.

Hedge Funds Weigh In On Main Street Capital

A number of large investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Main Street Capital by 3.7% in the second quarter. Legal & General Group Plc now owns 675,495 shares of the financial services provider's stock valued at $39,918,000 after acquiring an additional 24,248 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Main Street Capital by 45,123.0% in the first quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock valued at $33,405,000 after acquiring an additional 589,307 shares during the period. Invesco Ltd. lifted its position in Main Street Capital by 282.5% during the first quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock valued at $30,105,000 after purchasing an additional 393,101 shares during the last quarter. Adell Harriman & Carpenter Inc. lifted its position in Main Street Capital by 1.5% during the second quarter. Adell Harriman & Carpenter Inc. now owns 454,495 shares of the financial services provider's stock valued at $26,861,000 after purchasing an additional 6,853 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in Main Street Capital by 3.2% during the second quarter. Sound Income Strategies LLC now owns 345,827 shares of the financial services provider's stock valued at $20,438,000 after purchasing an additional 10,819 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

About Main Street Capital

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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