CM Finance Inc (NASDAQ:CMFN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “CM Finance Inc. is an externally managed, closed-end, non-diversified management investment company. It invests primarily in middle-market companies in the U.S. The company invest through unitranche loans and standalone second and first lien loans with an emphasis on floating rate debt as well as in mezzanine loans/structured equity and in the equity of portfolio companies. CM Finance Inc. is based in New York, United States. “
Shares of CM Finance (NASDAQ:CMFN) opened at 9.60 on Monday. The stock has a 50 day moving average of $10.04 and a 200 day moving average of $10.20. CM Finance has a 12-month low of $8.50 and a 12-month high of $10.80.
CM Finance (NASDAQ:CMFN) last announced its earnings results on Wednesday, September 6th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $7.19 million for the quarter, compared to analyst estimates of $7.40 million. CM Finance had a net margin of 76.03% and a return on equity of 9.42%. On average, equities analysts predict that CM Finance will post $1.07 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Ares Management LLC grew its position in CM Finance by 55.2% in the 2nd quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock valued at $1,056,000 after buying an additional 37,596 shares during the last quarter. Caxton Corp grew its position in CM Finance by 3.6% in the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after buying an additional 1,898 shares during the last quarter. Stephens Inc. AR grew its position in CM Finance by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after buying an additional 947 shares during the last quarter. Eagle Global Advisors LLC grew its position in CM Finance by 19.8% in the 2nd quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock valued at $272,000 after buying an additional 4,500 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new position in CM Finance in the 1st quarter valued at $133,000. Hedge funds and other institutional investors own 44.11% of the company’s stock.
CM Finance Company Profile
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies.
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