Main Street Capital (NYSE:MAIN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Main Street Capital (NYSE:MAIN) announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01, Zacks reports. Main Street Capital had a net margin of 78.49% and a return on equity of 11.80%. The company had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $144.59 million.

Main Street Capital Stock Up 0.6%

Shares of NYSE MAIN traded up $0.36 during mid-day trading on Thursday, reaching $58.80. The company had a trading volume of 103,679 shares, compared to its average volume of 688,457. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 11.86 and a beta of 0.71. The stock has a fifty day moving average of $54.61 and a two-hundred day moving average of $54.58. Main Street Capital has a 12-month low of $48.95 and a 12-month high of $67.34.

Main Street Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 8th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.4%. Main Street Capital’s dividend payout ratio is currently 64.11%.

Analyst Ratings Changes

MAIN has been the topic of several recent research reports. Citigroup restated a “market outperform” rating on shares of Main Street Capital in a research report on Monday, August 10th. Wells Fargo & Company raised their price objective on Main Street Capital from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings downgraded Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.83.

Insider Buying and Selling

In related news, CAO Ryan Mchugh bought 2,550 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $59.05 per share, with a total value of $150,577.50. Following the purchase, the chief accounting officer directly owned 22,647 shares of the company’s stock, valued at approximately $1,337,305.35. This represents a 12.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jason B. Beauvais sold 6,830 shares of Main Street Capital stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the sale, the executive vice president directly owned 196,185 shares of the company’s stock, valued at $10,148,650.05. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.83% of the company’s stock.

Institutional Trading of Main Street Capital

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Main Street Capital by 6.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider’s stock worth $165,135,000 after purchasing an additional 162,580 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Main Street Capital by 3,880.3% during the 4th quarter. Corient Private Wealth LLC now owns 890,361 shares of the financial services provider’s stock worth $53,768,000 after acquiring an additional 867,992 shares in the last quarter. UBS Group AG boosted its stake in shares of Main Street Capital by 160.7% during the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after acquiring an additional 534,374 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Main Street Capital by 637.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 356,799 shares of the financial services provider’s stock valued at $21,547,000 after acquiring an additional 308,404 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Main Street Capital by 5.2% in the 3rd quarter. Franklin Resources Inc. now owns 322,633 shares of the financial services provider’s stock valued at $20,516,000 after acquiring an additional 15,988 shares in the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

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.