Zacks Investment Research cut shares of CM Finance Inc (NASDAQ:CMFN) from a buy rating to a hold rating in a research report report published 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. “
CM Finance (NASDAQ CMFN) traded down 0.52% during midday trading on Monday, reaching $9.65. The company’s stock had a trading volume of 846 shares. CM Finance has a 1-year low of $8.50 and a 1-year high of $10.80. The firm has a 50 day moving average price of $9.99 and a 200 day moving average price of $10.19.
CM Finance (NASDAQ:CMFN) last announced its quarterly earnings results on Wednesday, September 6th. The investment management company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate 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 return on equity of 9.42% and a net margin of 76.03%. Equities research analysts forecast that CM Finance will post $1.07 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 8th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.36%. The ex-dividend date is Thursday, September 7th. CM Finance’s dividend payout ratio is 58.14%.
In related news, CEO Michael Mauer purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $9.61 per share, with a total value of $38,440.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.75% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Ares Management LLC boosted its stake in CM Finance by 55.2% in the second quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock worth $1,056,000 after purchasing an additional 37,596 shares in the last quarter. Caxton Corp boosted its stake in CM Finance by 3.6% in the second quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock worth $551,000 after purchasing an additional 1,898 shares in the last quarter. Stephens Inc. AR boosted its stake in CM Finance by 2.0% in the second quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock worth $492,000 after purchasing an additional 947 shares in the last quarter. Eagle Global Advisors LLC boosted its stake in CM Finance by 19.8% in the second quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock worth $272,000 after purchasing an additional 4,500 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new position in CM Finance in the first quarter worth $133,000. 44.11% of the stock is currently owned by institutional investors.
About CM Finance
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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