WCG Wealth Advisors LLC Boosts Stake in Main Street Capital Corporation $MAIN

Key Points

• WCG Wealth Advisors LLC increased its stake in Main Street Capital Corporation by 48.0%, acquiring an additional 5,100 shares for a total holding of 15,715 shares valued at approximately $889,000.
• Main Street Capital recently reported earnings of $0.99 per share, meeting analysts' expectations, with revenue of $143.97 million exceeding forecasts.
• The company declared a monthly dividend of $0.255 per share, representing an annualized yield of 4.8%, to be paid on December 15th.

WCG Wealth Advisors LLC increased its position in Main Street Capital Corporation (NYSE:MAIN - Free Report) by 48.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,715 shares of the financial services provider's stock after buying an additional 5,100 shares during the quarter. WCG Wealth Advisors LLC's holdings in Main Street Capital were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new stake in shares of Main Street Capital during the 1st quarter worth approximately $39,000. Spire Wealth Management bought a new stake in Main Street Capital in the 1st quarter valued at about $40,000. Wellington Shields & Co. LLC purchased a new position in shares of Main Street Capital in the first quarter valued at $41,000. Kapitalo Investimentos Ltda bought a new stake in Main Street Capital during the 4th quarter worth approximately $45,000. Finally, NBC Securities Inc. purchased a new position in shares of Main Street Capital during the first quarter worth about $54,000. Institutional investors and hedge funds own 20.31% of the company's stock.

Main Street Capital Price Performance

MAIN stock traded up $0.42 during trading on Friday, hitting $66.24. The stock had a trading volume of 486,280 shares, compared to its average volume of 547,121. The company's 50-day moving average price is $63.40 and its two-hundred day moving average price is $58.75. Main Street Capital Corporation has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $5.92 billion, a P/E ratio of 10.91 and a beta of 0.85.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The company had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, research analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, November 7th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Main Street Capital's dividend payout ratio (DPR) is 50.41%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAIN. Truist Financial increased their target price on Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Oppenheimer restated a "market perform" rating on shares of Main Street Capital in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.20.

Insider Transactions at Main Street Capital

In other Main Street Capital news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $59.37, for a total value of $811,231.68. Following the transaction, the executive vice president directly owned 181,526 shares in the company, valued at $10,777,198.62. The trade was a 7.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nicholas Meserve sold 14,000 shares of Main Street Capital stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $67.15, for a total transaction of $940,100.00. Following the sale, the director directly owned 82,383 shares in the company, valued at approximately $5,532,018.45. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.

Main Street Capital 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.