Zacks Investment Research lowered shares of CM Finance Inc (NASDAQ:CMFN) from a buy rating to a hold rating in a research note released on Monday morning.
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 (CMFN) opened at 9.60 on Monday. CM Finance has a 12-month low of $8.50 and a 12-month high of $10.80. The company has a 50-day moving average of $10.02 and a 200 day moving average of $10.20.
CM Finance (NASDAQ:CMFN) last released its quarterly earnings data on Wednesday, September 6th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. CM Finance had a return on equity of 9.42% and a net margin of 76.03%. The firm had revenue of $7.19 million during the quarter, compared to analyst estimates of $7.40 million. On average, equities research analysts predict that CM Finance will post $1.07 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.00 annualized dividend and a yield of 10.42%. CM Finance’s dividend payout ratio is currently 58.14%.
In related news, CEO Michael Mauer acquired 4,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was purchased at an average cost of $9.61 per share, for a total transaction of $38,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.75% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR raised its stake in CM Finance by 2.8% during the first quarter. Stephens Inc. AR now owns 48,218 shares of the investment management company’s stock worth $489,000 after acquiring an additional 1,328 shares in the last quarter. Ares Management LLC raised its stake in CM Finance by 27.1% during the first quarter. Ares Management LLC now owns 68,100 shares of the investment management company’s stock worth $691,000 after acquiring an additional 14,500 shares in the last quarter. Stifel Financial Corp raised its stake in CM Finance by 0.7% during the first quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock worth $367,000 after acquiring an additional 251 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in CM Finance by 5.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 105,232 shares of the investment management company’s stock worth $1,068,000 after acquiring an additional 5,014 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its stake in CM Finance by 30.0% during the first quarter. Eagle Global Advisors LLC now owns 22,717 shares of the investment management company’s stock worth $231,000 after acquiring an additional 5,240 shares in the last quarter. Hedge funds and other institutional investors own 44.11% of the company’s stock.
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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