Main Street Capital Corporation (NYSE:MAIN)
June 12th, 2019
Amidst falling markets Main Street Capital Corporation closed Wednesday up 1.25%, a $0.51 increase to close on $41.15. Furthermore it hit a new 52 week high of $41.17.
MAIN outperformed the rest of the Financials sector which went down -0.95% today.
The market sectors were mixed Wednesday with a majority of the sectors trending up. Utilities saw the biggest increase of the day (1.33%), while the Energy sector saw the biggest drop (-1.44%). Information Technology has seen the biggest year-to-date gain of 23.77%.
Energy and Financials experienced turn-arounds from their five day positive performances with Energy dropping -1.44%.
- Utilities, up 1.33%.
- Healthcare, up 0.51%.
- Materials, up 0.31%.
- Real Estate, up 0.26%.
- Industrials, up 0.20%.
- Consumer Staples, up 0.04%.
- Consumer Discretionary, down -0.11%.
- Communication Services, down -0.28%.
- Information Technology, down -0.58%.
- Financials, down -0.95%.
- Energy, down -1.44%.
Main Street Capital Corporation Info
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. It invests in consumer discretionary, consumer staples, energy, healthcare, industrials, information technology, manufacturing, media, materials, telecommunication services, and utilities sectors. It does not seek to invest in start-up companies or companies with speculative business plans. It seeks to invest in traditional or basic businesses. The firm primarily invests in companies based in the Southern, South Central, and Southwestern regions of the United States but also considers other domestic investment opportunities. It typically invests between $2 million and $75 million in equity and $5 million to $50 million in debt, revenue between $10 million and $150 million, enterprise value between $3 million and $50 million, and EBITDA between $1 million and $20 million. The firm seeks to charge a fixed interest rate between 12 percent and 14 percent, payable in cash, in case of its mezzanine loan investments. The firm typically invests in the form of term debt with equity participation and/or direct equity investments. It prefers to maintain fully diluted minority and majority equity positions in its portfolio companies of 5 percent to 50 percent, and may have controlling interests in some instances. The firm also co-invests with other investment firms. It seeks to exit its debt investments through the repayment of the investment from internally generated cash flow and/or refinancing within a period of three to seven years. It participates in warrants, PIK (Payment in Kind) interest, convertible securities, junior secured or unsecured, senior secured debt, unitranche debt, equity related, common equity, and preferred equity. Main Street Capital Corporation was incorporated on March 9, 2007 and is based at Houston, Texas.
All amounts in USD unless otherwise indicated
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