Main Street Capital (MAIN) Downgraded by Zacks Investment Research

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

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. “

MAIN has been the topic of a number of other research reports. SunTrust Banks reiterated a hold rating and issued a $40.00 price objective on shares of Main Street Capital in a report on Friday, August 3rd. National Securities boosted their price objective on shares of Main Street Capital from $35.00 to $38.00 and gave the stock a neutral rating in a report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Main Street Capital currently has a consensus rating of Hold and a consensus price target of $40.25.

Shares of MAIN stock opened at $37.73 on Thursday. Main Street Capital has a 12 month low of $34.37 and a 12 month high of $41.79. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 15.79 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Main Street Capital had a net margin of 83.40% and a return on equity of 11.81%. The firm had revenue of $59.87 million for the quarter, compared to analyst estimates of $57.88 million. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. Sell-side analysts forecast that Main Street Capital will post 2.53 EPS for the current fiscal year.

The business also recently announced a dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be paid a $0.195 dividend. The ex-dividend date is Thursday, October 18th. Main Street Capital’s dividend payout ratio (DPR) is presently 97.91%.

Institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC raised its stake in shares of Main Street Capital by 10.5% in the 3rd quarter. Sound Income Strategies LLC now owns 393,385 shares of the financial services provider’s stock valued at $15,145,000 after purchasing an additional 37,454 shares in the last quarter. CNO Financial Group Inc. raised its stake in shares of Main Street Capital by 114.3% in the 2nd quarter. CNO Financial Group Inc. now owns 300,000 shares of the financial services provider’s stock valued at $11,418,000 after purchasing an additional 160,000 shares in the last quarter. Castle Rock Wealth Management LLC raised its stake in shares of Main Street Capital by 72.4% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 11,717 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 4,922 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Main Street Capital by 145.9% in the 1st quarter. Royal Bank of Canada now owns 59,343 shares of the financial services provider’s stock valued at $2,190,000 after purchasing an additional 35,211 shares in the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of Main Street Capital by 2.2% in the 2nd quarter. State of Wisconsin Investment Board now owns 149,292 shares of the financial services provider’s stock valued at $5,682,000 after purchasing an additional 3,265 shares in the last quarter. Institutional investors and hedge funds own 23.56% 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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