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

Zacks Investment Research downgraded shares of Main Street Capital (NYSE:MAIN) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

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. “

Several other equities research analysts also recently commented on MAIN. Truist Financial upped their price objective on shares of Main Street Capital from $28.00 to $33.00 in a report on Wednesday, August 12th. Raymond James reissued a hold rating on shares of Main Street Capital in a report on Wednesday, September 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $31.40.

NYSE MAIN opened at $29.81 on Friday. The company has a market cap of $1.96 billion, a PE ratio of -24.64 and a beta of 1.44. Main Street Capital has a 52 week low of $14.11 and a 52 week high of $45.10. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $30.14 and its two-hundred day simple moving average is $29.85.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The business had revenue of $52.01 million for the quarter, compared to the consensus estimate of $49.13 million. Main Street Capital had a negative net margin of 34.15% and a positive return on equity of 10.12%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities research analysts anticipate that Main Street Capital will post 2.03 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 25th will be paid a $0.205 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 8.25%. The ex-dividend date is Tuesday, November 24th. Main Street Capital’s dividend payout ratio is currently 98.40%.

A number of institutional investors and hedge funds have recently made changes to their positions in MAIN. Segment Wealth Management LLC raised its stake in Main Street Capital by 948.2% in the second quarter. Segment Wealth Management LLC now owns 184,151 shares of the financial services provider’s stock valued at $5,733,000 after purchasing an additional 166,583 shares in the last quarter. UBS Group AG grew its holdings in shares of Main Street Capital by 231.5% in the second quarter. UBS Group AG now owns 208,442 shares of the financial services provider’s stock worth $6,489,000 after purchasing an additional 145,564 shares during the last quarter. Allworth Financial LP lifted its stake in Main Street Capital by 20,130.7% in the second quarter. Allworth Financial LP now owns 146,066 shares of the financial services provider’s stock worth $4,547,000 after acquiring an additional 145,344 shares during the period. WINTON GROUP Ltd purchased a new stake in Main Street Capital in the second quarter worth $3,276,000. Finally, Americana Partners LLC purchased a new stake in Main Street Capital in the third quarter worth $2,016,000. 19.00% of the stock is currently owned by institutional investors and hedge funds.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.

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