Main Street Capital (NYSE:MAIN) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Main Street Capital (NYSE:MAIN) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other research analysts also recently commented on the stock. Citizens Jmp reduced their price objective on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Weiss Ratings downgraded shares of Main Street Capital from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Royal Bank Of Canada reduced their price objective on shares of Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Citigroup reiterated an “outperform” rating on shares of Main Street Capital in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.83.

Main Street Capital Price Performance

Shares of MAIN stock opened at $50.42 on Friday. The company has a market capitalization of $4.69 billion, a PE ratio of 10.61 and a beta of 0.76. The firm has a fifty day simple moving average of $54.43 and a 200-day simple moving average of $58.06. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. Main Street Capital has a twelve month low of $50.05 and a twelve month high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.11). The firm had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. Equities research analysts anticipate that Main Street Capital will post 4.02 earnings per share for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Tuesday, September 8th. Main Street Capital’s dividend payout ratio is 65.68%.

Institutional Trading of Main Street Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Freedom Financial Partners LLC raised its holdings in shares of Main Street Capital by 3.3% during the fourth quarter. Freedom Financial Partners LLC now owns 5,356 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 170 shares during the period. Prospera Financial Services Inc raised its holdings in shares of Main Street Capital by 0.4% during the fourth quarter. Prospera Financial Services Inc now owns 48,229 shares of the financial services provider’s stock worth $2,915,000 after purchasing an additional 194 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Main Street Capital by 2.0% during the third quarter. Stratos Wealth Partners LTD. now owns 9,916 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 198 shares during the period. SMH Capital Advisors Inc. raised its holdings in shares of Main Street Capital by 1.1% during the fourth quarter. SMH Capital Advisors Inc. now owns 18,884 shares of the financial services provider’s stock worth $1,140,000 after purchasing an additional 206 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Main Street Capital by 3.5% during the first quarter. Sequoia Financial Advisors LLC now owns 6,142 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 207 shares during the period. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.