Seeking Alpha

Main Street loses Buy rating at Raymond James

  • Raymond James cashes in its chips on Main Street Capital (MAIN) after a nice run for the stock - up 9% already YTD - downgrading to Market Perform on valuation concerns.
Comments (13)
  • mbaietti
    , contributor
    Comments (39) | Send Message
     
    I am always so grateful to brokers when they downgrade my stocks. Hopefully the market will knock MAIN lower so I can continue to add to my position in this awesome dividend payer at lower prices.
    17 Jan, 09:01 AM Reply Like
  • VeroMike
    , contributor
    Comments (236) | Send Message
     
    I have a 15% gain, should I sell 50% and buyback later or just hold?
    My personal experiences with RJ have been awful.
    17 Jan, 09:11 AM Reply Like
  • RWMostow
    , contributor
    Comments (1324) | Send Message
     
    Mike-

     

    FWIW - My personal experience is that 15% is not enough of a price change. So I would hold, if I were in your position. I've got a GTC Limit order in w/my broker at $30.04.

     

    Good Luck.

     

    -rwm
    17 Jan, 09:29 AM Reply Like
  • VeroMike
    , contributor
    Comments (236) | Send Message
     
    Already down $1.77, not worth bailing now.
    Thanks for your response.
    I suspect RJ is buying as they have caused this downturn in the stock.
    17 Jan, 09:44 AM Reply Like
  • chirpsithra
    , contributor
    Comments (98) | Send Message
     
    mbiaetti has it right-- MAIN is the best BDC there is. Period. Hold.
    17 Jan, 09:43 AM Reply Like
  • VeroMike
    , contributor
    Comments (236) | Send Message
     
    I also own ARES Capital Corp, ARCC, is another excellent BDC.
    17 Jan, 10:30 AM Reply Like
  • Argyll
    , contributor
    Comments (761) | Send Message
     
    There is no new info. It appears they decided to downgrade because it's been going up. . The dividend is good and increases every few months and they paid two special dividends last year.

     

    Maybe RJ wants to buy at lower prices. It's also a couple days past the ex-div date for February when the pps usually drops..
    17 Jan, 11:19 AM Reply Like
  • NV_GARY
    , contributor
    Comments (1762) | Send Message
     
    Increased position by a third. Need more now. Thanks RJ
    17 Jan, 11:20 AM Reply Like
  • smurf
    , contributor
    Comments (3783) | Send Message
     
    I follow BDC Buzz, and he's maintained that the stock is overvalued. I've wanted to buy in, so maybe this will be an opportunity. Can't see any other fundamental reason why it should sell off.
    17 Jan, 11:31 AM Reply Like
  • magi48
    , contributor
    Comments (162) | Send Message
     
    It would nice if some reasons were stated for the down grade. I've been a holder of MAIN since they were under $10 a share. It will take more than a $2 drop to get me out. Maybe Raymond James needed the money for their first Q report due on Jan 22, 2014. Long on MAIN.
    17 Jan, 11:34 AM Reply Like
  • Robert R. Talley
    , contributor
    Comments (36) | Send Message
     
    The share price drop works well for me as I'll be reinvesting the dividends for dollar cost averaging.
    17 Jan, 03:19 PM Reply Like
  • User 432761
    , contributor
    Comments (27) | Send Message
     
    My thoughts... I didn't buy on Raymond James recommendation. I'm not going to sell on their downgrade to Market Perform. I limit my holdings in individual BDC's, and will consider selling some to bring it back in line with my objectives if its value exceeds 20%. I just checked and it's price is back to $34.15. Volume was about 4 times 90 day. Looks like it shook out some weak hands. Long MAIN.
    17 Jan, 06:20 PM Reply Like
  • doctorspec
    , contributor
    Comments (130) | Send Message
     
    Long MAIN, will add shares for a solid dividend payer.
    20 Jan, 02:46 AM Reply Like
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