Wealth Enhancement Advisory Services LLC Raises Stock Position in Main Street Capital Corporation (NYSE:MAIN)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,742 shares of the financial services provider's stock after buying an additional 6,787 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Main Street Capital worth $3,718,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAIN. Kapitalo Investimentos Ltda bought a new position in shares of Main Street Capital in the 4th quarter worth $45,000. Colonial Trust Advisors purchased a new position in Main Street Capital in the fourth quarter worth $46,000. NBC Securities Inc. bought a new position in Main Street Capital in the first quarter valued at $54,000. GAMMA Investing LLC raised its position in Main Street Capital by 5,557.9% during the first quarter. GAMMA Investing LLC now owns 1,075 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its position in Main Street Capital by 31.3% during the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 311 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 0.3%

Main Street Capital stock traded up $0.15 during trading hours on Monday, reaching $59.11. The company had a trading volume of 509,540 shares, compared to its average volume of 474,254. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.10 and a quick ratio of 0.10. Main Street Capital Corporation has a 12-month low of $45.00 and a 12-month high of $63.32. The company has a 50-day moving average price of $55.95 and a 200 day moving average price of $57.22. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 10.04 and a beta of 0.82.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Main Street Capital had a net margin of 94.61% and a return on equity of 13.02%. The firm had revenue of $137.05 million for the quarter, compared to analysts' expectations of $137.50 million. Equities analysts forecast that Main Street Capital Corporation will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 23rd were paid a dividend of $0.30 per share. This represents a dividend yield of 7.26%. This is an increase from Main Street Capital's previous dividend of $0.25. The ex-dividend date was Friday, June 20th. Main Street Capital's dividend payout ratio is 50.93%.

Insider Buying and Selling at Main Street Capital

In related news, EVP Jason B. Beauvais sold 13,664 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $59.37, for a total transaction of $811,231.68. Following the transaction, the executive vice president owned 181,526 shares in the company, valued at $10,777,198.62. The trade was a 7.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.09% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Main Street Capital from a "sell" rating to a "hold" rating in a report on Friday. Oppenheimer reaffirmed a "market perform" rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Truist Financial decreased their price target on shares of Main Street Capital from $62.00 to $54.00 and set a "hold" rating on the stock in a research note on Monday, May 12th. UBS Group lowered their price objective on shares of Main Street Capital from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, B. Riley raised shares of Main Street Capital to a "hold" rating in a report on Monday, June 16th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Main Street Capital currently has a consensus rating of "Hold" and an average price target of $52.80.

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.