WCG Wealth Advisors LLC Has $622,000 Position in Main Street Capital Co. (NYSE:MAIN)

WCG Wealth Advisors LLC grew its holdings in Main Street Capital Co. (NYSE:MAIN) by 4.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,615 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. WCG Wealth Advisors LLC’s holdings in Main Street Capital were worth $622,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Main Street Capital during the fourth quarter valued at $10,460,000. Invesco Ltd. boosted its position in Main Street Capital by 470.4% during the 4th quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider’s stock worth $8,152,000 after acquiring an additional 114,768 shares during the period. First Trust Advisors LP purchased a new position in Main Street Capital during the 4th quarter valued at about $6,059,000. Morgan Dempsey Capital Management LLC acquired a new position in shares of Main Street Capital in the 4th quarter valued at about $6,007,000. Finally, Van ECK Associates Corp increased its holdings in shares of Main Street Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock valued at $75,469,000 after purchasing an additional 92,833 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Insider Activity at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This represents a 22.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several research reports. UBS Group decreased their price target 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. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a research note on Tuesday, May 13th. Finally, Truist Financial lowered 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 report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Main Street Capital currently has an average rating of “Hold” and an average price target of $52.80.

Main Street Capital Stock Up 0.5%

Shares of Main Street Capital stock opened at $55.48 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 10.05 and a beta of 0.86. The stock has a 50-day simple moving average of $54.38 and a 200-day simple moving average of $56.47. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. The firm had revenue of $137.05 million for the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. On average, equities research analysts expect that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.52%. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) is currently 50.93%.

About Main Street Capital

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.