Envestnet Asset Management Inc. Grows Position in Main Street Capital Co. (NYSE:MAIN)

Envestnet Asset Management Inc. raised its position in Main Street Capital Co. (NYSE:MAIN) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,211 shares of the financial services provider’s stock after acquiring an additional 12,726 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.14% of Main Street Capital worth $7,042,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MAIN. Van ECK Associates Corp grew its stake in shares of Main Street Capital by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider’s stock worth $75,469,000 after purchasing an additional 92,833 shares in the last quarter. Adell Harriman & Carpenter Inc. lifted its holdings in Main Street Capital by 1.5% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 425,552 shares of the financial services provider’s stock worth $24,929,000 after buying an additional 6,297 shares during the last quarter. LPL Financial LLC boosted its position in shares of Main Street Capital by 1.6% during the 4th quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock worth $17,525,000 after acquiring an additional 4,740 shares in the last quarter. Paradiem LLC increased its holdings in shares of Main Street Capital by 0.3% in the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock valued at $16,437,000 after acquiring an additional 732 shares during the last quarter. Finally, Muzinich & Co. Inc. raised its position in shares of Main Street Capital by 5.0% during the 4th quarter. Muzinich & Co. Inc. now owns 222,977 shares of the financial services provider’s stock worth $13,062,000 after acquiring an additional 10,593 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial increased 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 note on Monday, March 3rd. UBS Group dropped their target price 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. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.60.

Insiders Place Their Bets

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

Main Street Capital Price Performance

MAIN stock opened at $53.22 on Monday. 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 current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $56.97 and a 200-day moving average of $56.11. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32.

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

Main Street Capital Increases Dividend

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