Wealth Enhancement Advisory Services LLC Trims Holdings in Main Street Capital Corporation $MAIN

Wealth Enhancement Advisory Services LLC reduced its position in shares of Main Street Capital Corporation (NYSE:MAIN) by 33.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,360 shares of the financial services provider’s stock after selling 15,829 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Main Street Capital were worth $1,954,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MAIN. Van ECK Associates Corp boosted its position in Main Street Capital by 100.9% during the third quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock worth $155,681,000 after acquiring an additional 1,229,863 shares during the last quarter. UBS Group AG raised its holdings in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock valued at $55,125,000 after acquiring an additional 534,374 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Main Street Capital by 90.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock worth $24,320,000 after purchasing an additional 181,733 shares during the period. Muzinich & Co. Inc. boosted its holdings in shares of Main Street Capital by 15.9% during the third quarter. Muzinich & Co. Inc. now owns 367,140 shares of the financial services provider’s stock worth $23,346,000 after purchasing an additional 50,332 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Main Street Capital by 16.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 334,542 shares of the financial services provider’s stock worth $21,274,000 after purchasing an additional 47,290 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Price Performance

MAIN stock opened at $52.69 on Friday. The company has a market cap of $4.75 billion, a PE ratio of 9.55 and a beta of 0.80. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $58.08 and a two-hundred day moving average price of $59.51. Main Street Capital Corporation has a 12-month low of $47.00 and a 12-month high of $67.77.

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

Main Street Capital Announces Dividend

The firm 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. This represents a $1.20 annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, April 8th. Main Street Capital’s payout ratio is currently 56.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on MAIN shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Main Street Capital in a research report on Monday, December 22nd. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Royal Bank Of Canada cut their price objective on shares of Main Street Capital from $67.00 to $66.00 and set an “outperform” rating on the stock in a report on Tuesday, December 9th. Loop Capital raised shares of Main Street Capital to a “neutral” rating and set a $65.00 target price on the stock in a research report on Thursday, January 15th. Finally, Citizens Jmp set a $70.00 target price on shares of Main Street Capital in a report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.71.

About Main Street Capital

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.