No details are yet available, but Raymond James analyst Robert Dodd just might be uncomfortable with Main Street Capital's (NYSE:MAIN) fancy valuation - it changes hands at about a 75% premium to book value. He downgrades to Underperform. The popular stock's higher by 8.5% this year, and 27% Y/Y, all while paying a dividend yield of nearly 6%.
Also downgraded are THL Credit (NASDAQ:TCRD) and Golub Capital (NASDAQ:GBDC) - both to Market Perform from Outperform. Golub trades at more than a 20% premium to book, and THL at a 15% discount.