Main Street Capital (NYSE:MAIN) Stock Rating Upgraded by Zacks Research

Key Points

• Main Street Capital has been upgraded to a "strong-buy" rating by Zacks Research, indicating growing confidence in the stock's potential.
• The company reported an earnings per share (EPS) of $0.99 for the last quarter, meeting consensus estimates and showing a net margin of 96.16%.
• Several institutional investors have significantly increased their stakes in Main Street Capital, with one firm boosting its holdings by over 45,000% in the first quarter.

Zacks Research upgraded shares of Main Street Capital (NYSE:MAIN - Free Report) from a hold rating to a strong-buy rating in a research report report published on Wednesday, August 20th,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Oppenheimer reiterated a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. UBS Group reaffirmed a "neutral" rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley raised 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. Finally, Truist Financial lifted their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Main Street Capital has a consensus rating of "Hold" and an average target price of $59.75.

Main Street Capital Stock Up 0.1%

Main Street Capital stock traded up $0.04 during midday trading on Wednesday, reaching $64.67. The stock had a trading volume of 169,583 shares, compared to its average volume of 546,339. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $63.13 and a two-hundred day moving average price of $58.67. The company has a market capitalization of $5.78 billion, a P/E ratio of 10.66 and a beta of 0.85. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results 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 business had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, equities analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

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

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the completion of the transaction, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. This represents a 7.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 of the company's stock, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.09% of the company's stock.

Institutional Trading of Main Street Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp grew its position in shares of Main Street Capital by 45,123.0% during the 1st quarter. Jones Financial Companies Lllp now owns 590,613 shares of the financial services provider's stock worth $33,405,000 after buying an additional 589,307 shares during the period. Invesco Ltd. grew 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 worth $30,105,000 after buying an additional 393,101 shares in the last quarter. HRT Financial LP lifted its stake in Main Street Capital by 147.7% during the second quarter. HRT Financial LP now owns 213,431 shares of the financial services provider's stock worth $12,613,000 after purchasing an additional 127,270 shares during the last quarter. Victory Capital Management Inc. bought a new position in Main Street Capital during the 1st quarter valued at approximately $6,205,000. Finally, First Trust Advisors LP purchased a new position in shares of Main Street Capital during the 4th quarter worth approximately $6,059,000. 20.31% of the stock is currently 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.