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

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Asset Planning Inc bought a new position in Main Street Capital in the fourth quarter worth $29,000. Truvestments Capital LLC bought a new position in shares of Main Street Capital in the 3rd quarter worth about $39,000. Prospera Private Wealth LLC purchased a new position in Main Street Capital during the 3rd quarter valued at about $50,000. Wilmington Savings Fund Society FSB bought a new stake in Main Street Capital during the third quarter worth about $50,000. Finally, AdvisorNet Financial Inc grew its holdings in 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 worth $72,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 20.31% of the company's stock.

Analyst Upgrades and Downgrades

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

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Main Street Capital Stock Up 1.9 %

NYSE:MAIN traded up $1.08 on Monday, reaching $58.62. 420,714 shares of the stock traded hands, compared to its average volume of 412,777. 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 company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 10.62 and a beta of 1.26. Main Street Capital Co. has a 12 month low of $45.00 and a 12 month high of $63.32. The company's fifty day simple moving average is $59.80 and its 200 day simple moving average is $55.47.

Main Street Capital (NYSE:MAIN - Get Free Report) last announced its quarterly 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). The firm had revenue of $140.44 million for the quarter, compared to the consensus estimate of $141.40 million. Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. Equities analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.30 per share. 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 is Thursday, March 20th. Main Street Capital's dividend payout ratio is presently 51.37%.

Main Street Capital Company 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.