Avantax Advisory Services Inc. Sells 4,985 Shares of Main Street Capital Co. (NYSE:MAIN)

Avantax Advisory Services Inc. reduced its stake in Main Street Capital Co. (NYSE:MAIN) by 24.1% during the fourth quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp grew its position 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 valued at $75,469,000 after purchasing an additional 92,833 shares in the last quarter. Adell Harriman & Carpenter Inc. grew 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 valued at $24,929,000 after buying an additional 6,297 shares in the last quarter. Paradiem LLC increased its stake in Main Street Capital by 0.3% in the 4th quarter. Paradiem LLC now owns 280,593 shares of the financial services provider’s stock worth $16,437,000 after acquiring an additional 732 shares during the last quarter. Muzinich & Co. Inc. raised its holdings 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. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Main Street Capital by 5.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,517 shares of the financial services provider’s stock valued at $12,918,000 after acquiring an additional 10,593 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Price Performance

Shares of Main Street Capital stock opened at $57.81 on Friday. The stock 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 quick ratio of 0.08 and a current ratio of 0.08. The stock has a 50 day moving average price of $59.80 and a 200-day moving average price of $55.33. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32.

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 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%. Equities analysts expect that Main Street Capital Co. will post 4.11 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 21st will be paid 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 (DPR) is presently 51.37%.

Wall Street Analysts Forecast Growth

Separately, 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 note on Monday, March 3rd.

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.