HighTower Advisors LLC Boosts Stake in Main Street Capital Co. (NYSE:MAIN)

HighTower Advisors LLC grew its stake in shares of Main Street Capital Co. (NYSE:MAIN) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,716 shares of the financial services provider’s stock after buying an additional 8,832 shares during the period. HighTower Advisors LLC’s holdings in Main Street Capital were worth $6,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Asset Planning Inc acquired a new stake in shares of Main Street Capital during the fourth quarter valued at $29,000. Truvestments Capital LLC purchased a new position in Main Street Capital in the 3rd quarter valued at about $39,000. Prospera Private Wealth LLC acquired a new stake in shares of Main Street Capital during the 3rd quarter worth about $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Main Street Capital during the third quarter worth about $50,000. Finally, AdvisorNet Financial Inc raised its position in shares of 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 valued at $72,000 after buying an additional 729 shares during the last quarter. 20.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Main Street Capital Stock Up 0.8 %

MAIN opened at $57.62 on Wednesday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 10.44 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 has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The business has a 50-day moving average of $59.81 and a two-hundred day moving average of $55.30.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $141.40 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, research analysts expect 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 of this dividend is Thursday, March 20th. This represents a yield of 7.24%. This is a boost from Main Street Capital’s previous dividend of $0.25. Main Street Capital’s dividend payout ratio (DPR) 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.