Wealth Enhancement Advisory Services LLC Sells 23,359 Shares of Main Street Capital Corporation $MAIN

Key Points

• Wealth Enhancement Advisory Services LLC has reduced its stake in Main Street Capital Corporation by 35.5%, selling 23,359 shares and retaining 42,383 shares valued at approximately $2.59 million.
• Main Street Capital recently declared a quarterly dividend of $0.30 per share, scheduled for payment on October 15th, representing an annualized yield of 1.9%.
• The company reported $0.99 EPS for the last quarter, meeting analyst estimates, and had a market capitalization of $5.70 billion.

Wealth Enhancement Advisory Services LLC reduced its position in shares of Main Street Capital Corporation (NYSE:MAIN - Free Report) by 35.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,383 shares of the financial services provider's stock after selling 23,359 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Main Street Capital were worth $2,591,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nations Financial Group Inc. IA ADV increased its position in shares of Main Street Capital by 2.4% in the first quarter. Nations Financial Group Inc. IA ADV now owns 9,520 shares of the financial services provider's stock valued at $538,000 after acquiring an additional 221 shares during the period. Uncommon Cents Investing LLC boosted its stake in Main Street Capital by 1.4% during the first quarter. Uncommon Cents Investing LLC now owns 16,206 shares of the financial services provider's stock worth $917,000 after buying an additional 231 shares during the period. Sigma Planning Corp grew its holdings in shares of Main Street Capital by 0.5% during the first quarter. Sigma Planning Corp now owns 44,942 shares of the financial services provider's stock worth $2,542,000 after purchasing an additional 236 shares during the last quarter. US Bancorp DE grew its holdings in Main Street Capital by 9.4% in the first quarter. US Bancorp DE now owns 2,822 shares of the financial services provider's stock valued at $160,000 after purchasing an additional 243 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Main Street Capital by 6.8% during the 1st quarter. Cornerstone Wealth Management LLC now owns 3,807 shares of the financial services provider's stock valued at $215,000 after acquiring an additional 244 shares in the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Main Street Capital Stock Down 0.0%

NYSE:MAIN opened at $63.71 on Friday. The firm's 50-day moving average price is $65.31 and its 200-day moving average price is $59.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital Corporation has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a market capitalization of $5.70 billion, a PE ratio of 10.50 and a beta of 0.88.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%.The firm had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. On average, equities analysts predict that Main Street Capital Corporation will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. Main Street Capital's dividend payout ratio (DPR) is 50.41%.

Insider Activity

In related news, Director Nicholas Meserve sold 14,000 shares of the business's 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 completion of the sale, the director directly owned 82,383 shares of the company's stock, valued at $5,532,018.45. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

MAIN has been the topic of several research reports. UBS Group restated a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Zacks Research upgraded Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada increased their target price on Main Street Capital from $52.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, August 28th. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, B. Riley increased their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $61.20.

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.

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