Wells Fargo & Company MN Lowers Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Wells Fargo & Company MN lowered its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,945 shares of the financial services provider’s stock after selling 19,457 shares during the period. Wells Fargo & Company MN owned about 0.13% of Main Street Capital worth $6,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MAIN. Asset Planning Inc acquired a new stake in Main Street Capital during the fourth quarter worth about $29,000. Wilmington Savings Fund Society FSB purchased a new position in Main Street Capital during the 3rd quarter valued at about $50,000. AdvisorNet Financial Inc boosted its stake in shares of Main Street Capital by 145.8% in the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 729 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Main Street Capital by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 311 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Main Street Capital by 34.2% during the 4th quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 381 shares during the period. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on MAIN shares. UBS Group cut their price target on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday. Truist Financial upped their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with 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 price target of $52.60.

Insider Buying and Selling at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the company’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 $6,966,000.00. Following the completion of the sale, the chief executive officer now directly 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 company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now owns 377,182 shares of the company’s stock, valued at $21,895,415.10. This trade represents 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 currently owned by insiders.

Main Street Capital Trading Up 0.9 %

MAIN stock opened at $53.22 on Friday. Main Street Capital Co. has a 52 week low of $45.00 and a 52 week high of $63.32. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 9.64 and a beta of 0.98. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $56.97 and a 200-day simple moving average of $56.03.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $140.44 million during the quarter, compared to analysts’ expectations of $141.40 million. On average, equities research analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were given a $0.30 dividend. This is an increase from Main Street Capital’s previous dividend of $0.25. This represents a dividend yield of 7.11%. The ex-dividend date was Thursday, March 20th. Main Street Capital’s dividend payout ratio (DPR) is presently 51.37%.

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.