Wealth Enhancement Advisory Services LLC Has $3.72 Million Holdings in Main Street Capital Corporation (NYSE:MAIN)

Wealth Enhancement Advisory Services LLC increased its stake in Main Street Capital Corporation (NYSE:MAIN) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,742 shares of the financial services provider’s stock after purchasing an additional 6,787 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Main Street Capital were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAIN. Raymond James Financial Inc. acquired a new position in Main Street Capital in the 4th quarter worth $10,460,000. Invesco Ltd. boosted its stake in Main Street Capital by 470.4% in the 4th quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock worth $8,152,000 after purchasing an additional 114,768 shares during the period. First Trust Advisors LP acquired a new position in Main Street Capital in the 4th quarter worth $6,059,000. Morgan Dempsey Capital Management LLC acquired a new position in Main Street Capital in the 4th quarter worth $6,007,000. Finally, Jefferies Financial Group Inc. acquired a new position in Main Street Capital in the 4th quarter worth $3,993,000. 20.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAIN. B. Riley raised shares of Main Street Capital to a “hold” rating in a research report on Monday, June 16th. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research report on Tuesday, May 13th. UBS Group cut their price target on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Truist Financial cut 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 report on Monday, May 12th. Finally, Wall Street Zen cut shares of Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Main Street Capital presently has an average rating of “Hold” and a consensus target price of $52.80.

Main Street Capital Stock Up 1.8%

Shares of MAIN stock opened at $59.35 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.10 and a current ratio of 0.10. The firm’s 50-day moving average is $55.57 and its 200-day moving average is $57.11. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 10.08 and a beta of 0.82. Main Street Capital Corporation has a 52-week low of $45.00 and a 52-week high of $63.32.

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

Main Street Capital Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 23rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a yield of 7.26%. This is a positive change from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s dividend payout ratio is 50.93%.

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.