Investors Purchase High Volume of Main Street Capital Put Options (MAIN)

Share on StockTwits

Main Street Capital Co. (NYSE:MAIN) was the target of unusually large options trading activity on Thursday. Stock traders acquired 1,576 put options on the stock. This represents an increase of 1,050% compared to the typical daily volume of 137 put options.

Several analysts have recently commented on MAIN shares. Zacks Investment Research downgraded shares of Main Street Capital from a “buy” rating to a “hold” rating in a research report on Saturday, December 15th. National Securities restated a “neutral” rating and set a $38.00 price objective on shares of Main Street Capital in a research report on Monday, November 5th. Raymond James upgraded shares of Main Street Capital from a “market perform” rating to an “outperform” rating and set a $41.00 price objective on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. Finally, Janney Montgomery Scott set a $35.00 price objective on shares of Main Street Capital and gave the company a “hold” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.50.

In other Main Street Capital news, Chairman Vincent D. Foster purchased 25,869 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were acquired at an average cost of $38.66 per share, for a total transaction of $1,000,095.54. Following the completion of the transaction, the chairman now owns 1,583,565 shares of the company’s stock, valued at $61,220,622.90. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.31% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MAIN. Cue Financial Group Inc. purchased a new position in shares of Main Street Capital in the 3rd quarter worth $689,000. Good Life Advisors LLC purchased a new position in shares of Main Street Capital in the 3rd quarter worth $204,000. Green Square Capital LLC purchased a new position in shares of Main Street Capital in the 2nd quarter worth $203,000. Paloma Partners Management Co purchased a new position in shares of Main Street Capital in the 3rd quarter worth $210,000. Finally, Trexquant Investment LP purchased a new position in shares of Main Street Capital in the 3rd quarter worth $211,000. Institutional investors own 23.42% of the company’s stock.

Shares of NYSE MAIN opened at $36.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.13 and a beta of 0.87. Main Street Capital has a 52-week low of $31.95 and a 52-week high of $40.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $58.26 million for the quarter, compared to the consensus estimate of $59.19 million. Main Street Capital had a net margin of 95.77% and a return on equity of 10.61%. Main Street Capital’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. On average, equities analysts forecast that Main Street Capital will post 2.54 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a $0.195 dividend. The ex-dividend date is Friday, December 28th. This represents a $2.34 dividend on an annualized basis and a yield of 6.47%. Main Street Capital’s dividend payout ratio is currently 97.91%.

COPYRIGHT VIOLATION WARNING: This piece was reported by Macon Daily and is owned by of Macon Daily. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://macondaily.com/2019/01/11/investors-purchase-high-volume-of-main-street-capital-put-options-main.html.

Main Street Capital Company Profile

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.

Featured Article: What is Cost of Debt?

Receive News & Ratings for Main Street Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Main Street Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply