Main Street Capital (NYSE:MAIN) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Main Street Capital (NYSE:MAIN) from a buy rating to a hold rating in a report issued on Thursday 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. “

Separately, National Securities restated a neutral rating and set a $38.00 price objective on shares of Main Street Capital in a report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $40.20.

Shares of NYSE MAIN traded down $0.10 during midday trading on Thursday, hitting $42.65. The company’s stock had a trading volume of 213,602 shares, compared to its average volume of 233,404. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $41.66. Main Street Capital has a 12-month low of $31.95 and a 12-month high of $42.93. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 16.40 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $60.33 million. Main Street Capital had a return on equity of 10.70% and a net margin of 73.33%. Main Street Capital’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. As a group, research analysts expect that Main Street Capital will post 2.54 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.205 per share. The ex-dividend date is Monday, August 19th. This represents a $2.46 annualized dividend and a yield of 5.77%. Main Street Capital’s payout ratio is currently 94.62%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAIN. Cetera Advisor Networks LLC increased its holdings in shares of Main Street Capital by 1.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 17,809 shares of the financial services provider’s stock valued at $663,000 after acquiring an additional 271 shares during the period. Wedbush Securities Inc. increased its holdings in shares of Main Street Capital by 4.9% in the 1st quarter. Wedbush Securities Inc. now owns 6,400 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 300 shares during the period. Heritage Wealth Advisors increased its holdings in shares of Main Street Capital by 11.1% in the 1st quarter. Heritage Wealth Advisors now owns 3,334 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 334 shares during the period. MML Investors Services LLC increased its holdings in shares of Main Street Capital by 1.7% in the 1st quarter. MML Investors Services LLC now owns 20,111 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 334 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Main Street Capital by 1.1% in the 4th quarter. Bank of America Corp DE now owns 31,769 shares of the financial services provider’s stock valued at $1,074,000 after acquiring an additional 341 shares during the period. Institutional investors own 22.52% of the company’s stock.

About Main Street Capital

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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