Main Street Capital: A Safe But Expensive 8% Yield [Upgrade] [Seeking Alpha]
Main Street Capital Corporation (MAIN)
Last main street capital corporation earnings: 2/27 04:15 pm
Check Earnings Report
US:NYSE Investor Relations:
ir.mainstcapital.com
Company Research
Source: Upgrade
The BDC generated record results in FY 2023 and distribution coverage of 1.17X making MAIN a relatively safe dividend play. Main Street out-performed other BDCs in terms of NAV growth in the last three years. However, the BDC is priced at an 58% premium to NAV which limits further upside, in my opinion. Main Street Capital ( NYSE: MAIN ) seems one of the most coveted BDCs on the Street as the company has delivered consistent net asset value per-share growth over the life of the company. While Main Street consistently handed dividend raises to its shareholders, the BDC seems overpriced with a 58% premium to net asset value... which I believe translates to an unattractive risk profile for dividend investors. The BDC's shares are paying an 8% yield, while Main Street's core LMM portfolio generated a much higher weighted-average debt yield of 13% in 2023. I believe the premium is still very high, but the dividend at least is very well-protected! Previous rating I worked on Main
Show less
Read more
Impact Snapshot
Event Time:
MAIN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MAIN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MAIN alerts
High impacting Main Street Capital Corporation news events
Weekly update
A roundup of the hottest topics
MAIN
News
- Main Street Capital: Solid Execution Justifies A Robust, Bullish View (Upgrade) [Seeking Alpha]Seeking Alpha
- Main Street Capital's Share Price Is Getting Ahead Of Itself, But I Wouldn't Fight The Momentum [Seeking Alpha]Seeking Alpha
- Main Street: Too Expensive To Touch, But Bonds Look Delicious [Seeking Alpha]Seeking Alpha
- Main Street makes $36.6M in follow-on investments year-to-date [Seeking Alpha]Seeking Alpha
- Main Street Announces Follow-On Investments [Yahoo! Finance]Yahoo! Finance
MAIN
Earnings
- 2/22/24 - Beat
MAIN
Sec Filings
- 4/16/24 - Form 8-K
- 4/11/24 - Form 8-K
- 4/2/24 - Form 4
- MAIN's page on the SEC website