Main Street Capital (NYSE:MAIN) Stock Rating Upgraded by Wall Street Zen

Main Street Capital (NYSE:MAIN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other analysts have also issued reports on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Weiss Ratings raised shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Truist Financial boosted their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Zacks Research raised shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company raised shares of Main Street Capital from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $55.00 to $60.00 in a report on Tuesday, September 29th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Main Street Capital Stock Up 0.0%

NYSE:MAIN opened at $55.12 on Friday. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 11.11 and a beta of 0.74. Main Street Capital has a twelve month low of $48.95 and a twelve month high of $65.23. The stock’s 50 day moving average price is $56.91 and its two-hundred day moving average price is $54.27. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%.The company had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million. Equities research analysts expect that Main Street Capital will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Ryan Mchugh acquired 2,550 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $59.05 per share, for a total transaction of $150,577.50. Following the completion of the acquisition, the chief accounting officer directly owned 22,647 shares in the company, valued at approximately $1,337,305.35. This trade represents a 12.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.83% of the stock is currently owned by company insiders.

Institutional Trading of Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CX Institutional bought a new stake in shares of Main Street Capital during the 3rd quarter worth about $65,000. Confluence Investment Management LLC raised its holdings in Main Street Capital by 2.7% in the 3rd quarter. Confluence Investment Management LLC now owns 96,050 shares of the financial services provider’s stock valued at $5,288,000 after acquiring an additional 2,564 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Main Street Capital by 8.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,691 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 549 shares during the period. NewEdge Advisors LLC lifted its position in Main Street Capital by 8.3% during the second quarter. NewEdge Advisors LLC now owns 44,558 shares of the financial services provider’s stock worth $2,312,000 after acquiring an additional 3,415 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Main Street Capital by 57.4% during the second quarter. Squarepoint Ops LLC now owns 38,187 shares of the financial services provider’s stock worth $1,981,000 after acquiring an additional 13,932 shares during the last quarter. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately owned businesses. The company primarily supports lower middle market companies, as well as certain middle market businesses, that may require capital for growth, acquisitions, recapitalizations, refinancings, or ownership transitions.

Main Street typically invests in the form of secured debt, subordinated debt, equity investments, and warrants. Its lower middle market investments are often made in partnership with company owners and management teams, while its middle market activities generally involve providing longer-term debt capital to established businesses.