Naviter Wealth LLC Grows Stock Holdings in Main Street Capital Co. (NYSE:MAIN)

Naviter Wealth LLC grew its position in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,168 shares of the financial services provider's stock after buying an additional 4,765 shares during the period. Naviter Wealth LLC owned 0.08% of Main Street Capital worth $3,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in Main Street Capital during the fourth quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in shares of Main Street Capital in the third quarter valued at approximately $39,000. Prospera Private Wealth LLC purchased a new stake in shares of Main Street Capital during the 3rd quarter valued at approximately $50,000. Wilmington Savings Fund Society FSB bought a new position in Main Street Capital in the 3rd quarter worth approximately $50,000. Finally, AdvisorNet Financial Inc grew its stake in Main Street Capital by 145.8% in 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 in the last quarter. Institutional investors own 20.31% of the company's stock.

Analyst Upgrades and Downgrades

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

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Main Street Capital Price Performance

NYSE:MAIN traded down $0.03 during mid-day trading on Wednesday, hitting $55.73. 482,954 shares of the stock traded hands, compared to its average volume of 406,231. Main Street Capital Co. has a 12-month low of $45.00 and a 12-month high of $63.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The company has a market cap of $4.94 billion, a PE ratio of 10.10 and a beta of 1.26. The business's 50-day moving average price is $60.08 and its 200 day moving average price is $55.04.

Main Street Capital (NYSE:MAIN - Get Free Report) last released its quarterly 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 net margin of 89.25% and a return on equity of 13.83%. On average, analysts expect that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, June 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 5.38%. Main Street Capital's payout ratio is presently 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.