Main Street Capital (NYSE:MAIN) Trading Up 22.6%

Main Street Capital Co. (NYSE:MAIN) was up 22.6% during trading on Wednesday . The stock traded as high as $19.46 and last traded at $22.33, approximately 1,414,159 shares were traded during mid-day trading. An increase of 4% from the average daily volume of 1,364,699 shares. The stock had previously closed at $18.21.

Several research analysts have commented on MAIN shares. National Securities upgraded Main Street Capital from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 17th. ValuEngine upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Zacks Investment Research upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Main Street Capital has an average rating of “Buy” and a consensus target price of $43.50.

The firm has a 50 day simple moving average of $35.48 and a 200 day simple moving average of $41.21. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $1.34 billion, a P/E ratio of 11.29 and a beta of 0.85.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. Main Street Capital had a return on equity of 10.30% and a net margin of 53.24%. The business had revenue of $60.50 million during the quarter, compared to the consensus estimate of $59.45 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Main Street Capital Co. will post 2.43 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, May 19th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 10.53%. Main Street Capital’s dividend payout ratio (DPR) is presently 98.40%.

In other Main Street Capital news, Director Arthur L. French purchased 2,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was purchased at an average price of $15.55 per share, for a total transaction of $31,100.00. Following the transaction, the director now owns 23,574 shares in the company, valued at approximately $366,575.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jesse E. Morris purchased 1,300 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average price of $38.39 per share, with a total value of $49,907.00. Following the transaction, the chief operating officer now owns 39,669 shares in the company, valued at approximately $1,522,892.91. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 11,850 shares of company stock valued at $223,853. Corporate insiders own 5.43% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MAIN. Marshall Wace North America L.P. bought a new stake in shares of Main Street Capital during the 1st quarter valued at about $30,000. RDA Financial Network boosted its position in shares of Main Street Capital by 23.2% during the 3rd quarter. RDA Financial Network now owns 11,964 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 2,254 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Main Street Capital during the 3rd quarter valued at about $365,000. EP Wealth Advisors LLC bought a new stake in shares of Main Street Capital during the 3rd quarter valued at about $274,000. Finally, Sound Income Strategies LLC boosted its position in shares of Main Street Capital by 9.5% during the 4th quarter. Sound Income Strategies LLC now owns 704,403 shares of the financial services provider’s stock valued at $30,367,000 after acquiring an additional 60,993 shares during the last quarter. Hedge funds and other institutional investors own 21.91% of the company’s stock.

Main Street Capital Company Profile (NYSE:MAIN)

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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