Envestnet Asset Management Inc. Has $1.67 Million Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Envestnet Asset Management Inc. grew its stake in Main Street Capital Co. (NYSE:MAINGet Rating) by 3.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 43,280 shares of the financial services provider’s stock after buying an additional 1,552 shares during the period. Envestnet Asset Management Inc.’s holdings in Main Street Capital were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Avenue Asset Management LP grew its stake in Main Street Capital by 43.2% during the second quarter. Baker Avenue Asset Management LP now owns 21,346 shares of the financial services provider’s stock worth $822,000 after purchasing an additional 6,435 shares during the period. AE Wealth Management LLC grew its stake in Main Street Capital by 5.2% during the second quarter. AE Wealth Management LLC now owns 28,071 shares of the financial services provider’s stock worth $1,082,000 after purchasing an additional 1,399 shares during the period. Avantax Advisory Services Inc. grew its stake in Main Street Capital by 38.1% during the second quarter. Avantax Advisory Services Inc. now owns 92,121 shares of the financial services provider’s stock worth $3,549,000 after purchasing an additional 25,415 shares during the period. Lincoln National Corp grew its stake in Main Street Capital by 8.9% during the second quarter. Lincoln National Corp now owns 7,248 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 594 shares during the period. Finally, Widmann Financial Services Inc. grew its stake in Main Street Capital by 6.5% during the second quarter. Widmann Financial Services Inc. now owns 21,385 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 1,301 shares during the period. Institutional investors and hedge funds own 19.11% of the company’s stock.

Main Street Capital Stock Down 0.3 %

MAIN stock opened at $37.79 on Friday. Main Street Capital Co. has a twelve month low of $31.66 and a twelve month high of $47.13. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $36.45 and its 200-day moving average is $38.86. The firm has a market capitalization of $2.92 billion, a PE ratio of 11.85 and a beta of 1.33.

Main Street Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 8th will be issued a $0.225 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 7.14%. Main Street Capital’s dividend payout ratio is presently 82.76%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. TheStreet cut Main Street Capital from a “b-” rating to a “c+” rating in a research note on Friday, September 23rd. StockNews.com assumed coverage on Main Street Capital in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James lowered Main Street Capital from an “outperform” rating to a “market perform” rating in a report on Monday, August 8th. Hovde Group cut their price target on Main Street Capital to $40.00 in a report on Wednesday, October 5th. Finally, Truist Financial cut their price target on Main Street Capital to $40.00 in a report on Wednesday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Main Street Capital Profile

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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.

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Want to see what other hedge funds are holding MAIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Main Street Capital Co. (NYSE:MAINGet Rating).

Institutional Ownership by Quarter for Main Street Capital (NYSE:MAIN)

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