Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Price Down 10.4% – Here’s Why

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB)’s stock price dropped 10.4% during mid-day trading on Monday. The stock traded as low as $0.6860 and last traded at $0.7080. 70,823 shares changed hands during trading, an increase of 178% from the average daily volume of 25,437 shares. The stock had previously closed at $0.79.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Investcorp Credit Management BDC Stock Down 10.4%

The stock has a market cap of $10.22 million, a price-to-earnings ratio of -0.50 and a beta of 0.68. The business has a fifty day moving average of $0.84 and a 200 day moving average of $1.19. The company has a debt-to-equity ratio of 2.20, a current ratio of 7.28 and a quick ratio of 7.28.

Investcorp Credit Management BDC (NASDAQ:ICMB) last posted its earnings results on Friday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $0.16 million during the quarter, compared to analyst estimates of $4.70 million. Investcorp Credit Management BDC had a negative net margin of 134.21% and a positive return on equity of 0.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bulldog Investors LLP boosted its holdings in Investcorp Credit Management BDC by 7.7% in the first quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock worth $967,000 after purchasing an additional 42,583 shares in the last quarter. Alpine Global Management LLC acquired a new position in Investcorp Credit Management BDC during the fourth quarter worth $71,000. Susquehanna International Group LLP bought a new position in Investcorp Credit Management BDC during the second quarter valued at about $45,000. Squarepoint Ops LLC bought a new position in Investcorp Credit Management BDC during the second quarter valued at about $34,000. Finally, North Ground Capital acquired a new stake in shares of Investcorp Credit Management BDC in the second quarter worth about $32,760. Institutional investors own 7.76% of the company’s stock.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC, Inc is a business development company that provides financing to privately held, middle-market companies. The company seeks to generate income primarily through investments in debt securities, while also pursuing potential capital appreciation through equity and equity-related investments.

Its investment portfolio may include senior secured, first-lien and unitranche loans, as well as second-lien debt and other subordinated securities. Investcorp Credit Management BDC generally focuses on companies that may require customized financing for acquisitions, recapitalizations, growth initiatives, refinancings and other corporate purposes.

The company is externally managed by Investcorp Credit Management LLC, an affiliate of Investcorp, a global alternative investment firm.