Main Street Capital (NYSE:MAIN) Upgraded to Strong-Buy at 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.

Main Street Capital (NYSE:MAIN - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

MAIN has been the topic of several other reports. UBS Group reiterated a "neutral" rating and set a $58.00 target price (up from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Truist Financial lifted their price target on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, August 11th. 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. B. Riley raised their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a report on Tuesday, May 13th. 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 currently has a consensus rating of "Hold" and a consensus price target of $59.75.

Main Street Capital Trading Up 0.3%

Shares of MAIN stock opened at $65.5670 on Wednesday. Main Street Capital has a twelve month low of $47.00 and a twelve month high of $67.77. The stock's fifty day simple moving average is $62.71 and its 200 day simple moving average is $58.62. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.86 billion, a P/E ratio of 10.80 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. As a group, sell-side analysts predict that Main Street Capital will post 4.11 EPS for the current fiscal year.

Insider Transactions at Main Street Capital

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

Institutional Trading of Main Street Capital

Several large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its holdings in 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 worth $33,405,000 after purchasing an additional 589,307 shares during the period. Invesco Ltd. boosted its position in shares of Main Street Capital by 282.5% during the 1st quarter. Invesco Ltd. now owns 532,267 shares of the financial services provider's stock worth $30,105,000 after purchasing an additional 393,101 shares in the last quarter. HRT Financial LP boosted its position in shares of Main Street Capital by 147.7% during the 2nd 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 in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Main Street Capital in the 1st quarter valued at about $6,205,000. Finally, First Trust Advisors LP bought a new stake in Main Street Capital in the 4th quarter valued at about $6,059,000. 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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