Wealth Enhancement Advisory Services LLC Cuts Stake in Main Street Capital Corporation $MAIN

Wealth Enhancement Advisory Services LLC lowered its stake in Main Street Capital Corporation (NYSE:MAIN) by 33.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,360 shares of the financial services provider’s stock after selling 15,829 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Main Street Capital were worth $1,954,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Quest 10 Wealth Builders Inc. acquired a new position in Main Street Capital during the 3rd quarter worth approximately $25,000. City Holding Co. acquired a new stake in Main Street Capital in the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its stake in shares of Main Street Capital by 109.6% during 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 during the period. Investors Research Corp acquired a new position in shares of Main Street Capital during the fourth quarter worth $30,000. Finally, Assetmark Inc. lifted its position in shares of Main Street Capital by 203.0% during the third quarter. Assetmark Inc. now owns 506 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 339 shares in the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Main Street Capital Trading Up 1.5%

MAIN opened at $52.69 on Friday. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. The stock has a market capitalization of $4.75 billion, a PE ratio of 9.55 and a beta of 0.80. The firm’s fifty day moving average price is $58.08 and its 200 day moving average price is $59.51.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $156.17 million during the quarter, compared to the consensus estimate of $141.50 million. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. As a group, research analysts expect that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, April 8th. This represents a $1.20 annualized dividend and a yield of 2.3%. Main Street Capital’s dividend payout ratio is presently 56.52%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MAIN shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Main Street Capital in a report on Monday, December 22nd. Citizens Jmp set a $70.00 price objective on shares of Main Street Capital in a research report on Monday, December 8th. Loop Capital upgraded Main Street Capital to a “neutral” rating and set a $65.00 target price for the company in a research note on Thursday, January 15th. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada reduced their price target on Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, December 9th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.71.

Main Street Capital Company Profile

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.