Zacks Research Downgrades Main Street Capital (NYSE:MAIN) to Strong Sell

Main Street Capital (NYSE:MAIN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Wells Fargo & Company assumed coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 target price for the company. Weiss Ratings cut shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Citizens Jmp reduced their target price on shares of Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Finally, Royal Bank Of Canada reduced their target price on shares of 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 research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.14.

Main Street Capital Trading Down 0.1%

MAIN stock opened at $51.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06. The company has a fifty day moving average price of $53.35 and a two-hundred day moving average price of $57.59. Main Street Capital has a one year low of $48.95 and a one year high of $67.77. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 10.79 and a beta of 0.76.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The company had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. Equities analysts anticipate that Main Street Capital will post 3.78 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Garner Asset Management Corp acquired a new position in Main Street Capital in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in Main Street Capital by 109.6% in the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Sankala Group LLC acquired a new position in Main Street Capital in the fourth quarter valued at about $29,000. Investors Research Corp acquired a new position in Main Street Capital in the fourth quarter valued at about $30,000. Finally, Gilpin Wealth Management LLC acquired a new position in Main Street Capital in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

About Main Street Capital

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.