CM Finance Inc (NASDAQ:CMFN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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) traded up 1.01% during midday trading on Monday, hitting $10.05. 93,421 shares of the stock were exchanged. CM Finance has a 12 month low of $6.69 and a 12 month high of $10.31. The firm has a 50 day moving average of $9.59 and a 200-day moving average of $9.48.
CM Finance (NASDAQ:CMFN) last released its earnings results on Wednesday, February 8th. The investment management company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. CM Finance had a net margin of 57.69% and a return on equity of 10.70%. On average, equities analysts expect that CM Finance will post $1.16 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in CMFN. Moors & Cabot Inc. acquired a new stake in CM Finance during the third quarter worth $206,000. Nuveen Fund Advisors LLC raised its stake in CM Finance by 72.3% in the third quarter. Nuveen Fund Advisors LLC now owns 24,008 shares of the investment management company’s stock worth $218,000 after buying an additional 10,076 shares in the last quarter. Stifel Financial Corp raised its stake in CM Finance by 0.3% in the second quarter. Stifel Financial Corp now owns 45,610 shares of the investment management company’s stock worth $405,000 after buying an additional 118 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in CM Finance by 4.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 100,218 shares of the investment management company’s stock worth $932,000 after buying an additional 4,526 shares in the last quarter. Finally, Ares Management LLC raised its stake in CM Finance by 221.1% in the third quarter. Ares Management LLC now owns 138,614 shares of the investment management company’s stock worth $1,261,000 after buying an additional 95,452 shares in the last quarter. Institutional investors own 42.89% 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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