Avantax Advisory Services Inc. Cuts Holdings in Main Street Capital Co. (NYSE:MAIN)

Avantax Advisory Services Inc. lowered its holdings in Main Street Capital Co. (NYSE:MAIN) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,713 shares of the financial services provider’s stock after selling 4,985 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Main Street Capital were worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Asset Planning Inc purchased a new position in Main Street Capital in the 4th quarter worth about $29,000. Truvestments Capital LLC purchased a new position in shares of Main Street Capital during the third quarter valued at approximately $39,000. Prospera Private Wealth LLC bought a new position in Main Street Capital during the third quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB purchased a new stake in Main Street Capital in the third quarter worth approximately $50,000. Finally, AdvisorNet Financial Inc raised its stake in Main Street Capital by 145.8% during the 4th quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider’s stock valued at $72,000 after buying an additional 729 shares during the last quarter. 20.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial increased their target price on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 3rd.

Main Street Capital Trading Down 0.7 %

Shares of MAIN stock opened at $57.81 on Friday. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The firm has a fifty day moving average price of $59.80 and a 200-day moving average price of $55.33. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 10.47 and a beta of 1.26. 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 posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $1.02 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.06). The company had revenue of $140.44 million during the quarter, compared to the consensus estimate 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 predict that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 21st will be issued a $0.30 dividend. The ex-dividend date is Thursday, March 20th. This represents a yield of 7.11%. This is an increase from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s dividend payout ratio is currently 51.37%.

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.