Main Street Capital Corporation (MAIN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Main Street Capital Corporation (NYSE:MAIN) from a buy rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “

Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Main Street Capital Corporation from a hold rating to a buy rating in a research report on Friday, September 1st. National Securities reiterated a sell rating and set a $33.00 price objective on shares of Main Street Capital Corporation in a research note on Tuesday, August 8th. Finally, BidaskClub downgraded shares of Main Street Capital Corporation from a buy rating to a hold rating in a research note on Sunday, July 16th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average target price of $38.98.

Shares of Main Street Capital Corporation (NYSE:MAIN) opened at 39.90 on Tuesday. Main Street Capital Corporation has a 52-week low of $32.12 and a 52-week high of $40.86. The company has a market capitalization of $2.27 billion, a PE ratio of 13.11 and a beta of 1.00. The firm’s 50-day moving average price is $39.63 and its 200 day moving average price is $39.06.

Main Street Capital Corporation (NYSE:MAIN) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The business had revenue of $50.30 million for the quarter, compared to analyst estimates of $47.82 million. Main Street Capital Corporation had a net margin of 86.36% and a return on equity of 10.24%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Main Street Capital Corporation will post $2.30 earnings per share for the current year.

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The company also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 21st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.28 annualized dividend and a yield of 5.71%. Main Street Capital Corporation’s dividend payout ratio (DPR) is 74.75%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Muzinich & Co. Inc. boosted its stake in Main Street Capital Corporation by 6.1% in the second quarter. Muzinich & Co. Inc. now owns 2,313,404 shares of the financial services provider’s stock valued at $88,974,000 after acquiring an additional 133,731 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Main Street Capital Corporation by 3.2% in the second quarter. Macquarie Group Ltd. now owns 1,029,670 shares of the financial services provider’s stock valued at $39,601,000 after acquiring an additional 31,776 shares in the last quarter. UBS Group AG boosted its stake in Main Street Capital Corporation by 90.7% in the first quarter. UBS Group AG now owns 663,492 shares of the financial services provider’s stock valued at $25,392,000 after acquiring an additional 315,622 shares in the last quarter. Van ECK Associates Corp boosted its stake in Main Street Capital Corporation by 22.9% in the second quarter. Van ECK Associates Corp now owns 381,415 shares of the financial services provider’s stock valued at $14,669,000 after acquiring an additional 70,945 shares in the last quarter. Finally, Usca Ria LLC boosted its stake in Main Street Capital Corporation by 127.4% in the second quarter. Usca Ria LLC now owns 372,302 shares of the financial services provider’s stock valued at $14,319,000 after acquiring an additional 208,555 shares in the last quarter. Institutional investors own 26.33% of the company’s stock.

Main Street Capital Corporation Company Profile

Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.

Analyst Recommendations for Main Street Capital Corporation (NYSE:MAIN)

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