Wealth Enhancement Advisory Services LLC Purchases 229 Shares of Main Street Capital Co. (NYSE:MAIN)

Wealth Enhancement Advisory Services LLC increased its position in Main Street Capital Co. (NYSE:MAIN) by 0.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,955 shares of the financial services provider’s stock after buying an additional 229 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.07% of Main Street Capital worth $3,454,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MAIN. Barclays PLC boosted its stake in shares of Main Street Capital by 75.6% in the third quarter. Barclays PLC now owns 72,265 shares of the financial services provider’s stock worth $3,624,000 after acquiring an additional 31,110 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Main Street Capital by 2.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 20,670 shares of the financial services provider’s stock worth $1,211,000 after purchasing an additional 494 shares in the last quarter. Brighton Jones LLC bought a new position in Main Street Capital in the 4th quarter worth approximately $304,000. Verity Asset Management Inc. grew its holdings in Main Street Capital by 11.8% during the 4th quarter. Verity Asset Management Inc. now owns 4,950 shares of the financial services provider’s stock valued at $290,000 after buying an additional 523 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Main Street Capital during the fourth quarter valued at approximately $319,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Stock Performance

Shares of NYSE:MAIN opened at $56.50 on Wednesday. The firm has a fifty day simple moving average of $54.11 and a two-hundred day simple moving average of $56.76. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $5.03 billion, a P/E ratio of 10.24 and a beta of 0.86.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $137.05 million during the quarter, compared to the consensus estimate of $137.50 million. On average, analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.255 dividend. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.42%. Main Street Capital’s payout ratio is 50.93%.

Analyst Ratings Changes

Several research firms recently weighed in on MAIN. Truist Financial cut their target price on shares of Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a research note on Monday, May 12th. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday. Oppenheimer reiterated a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, UBS Group cut their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $52.80.

Insider Activity

In other Main Street Capital news, insider David L. Magdol sold 100,000 shares of Main Street Capital stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares in the company, valued at $23,357,636.55. This trade represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Main Street Capital Company Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.