CM Finance (CMFN) Sets New 52-Week Low at $7.85
CM Finance Inc (NASDAQ:CMFN) shares reached a new 52-week low during trading on Monday . The stock traded as low as $7.85 and last traded at $8.05, with a volume of 41900 shares traded. The stock had previously closed at $8.10.
Several research firms have recently commented on CMFN. TheStreet downgraded CM Finance from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised CM Finance from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday, September 8th. Finally, ValuEngine raised CM Finance from a “hold” rating to a “buy” rating in a research note on Friday, December 1st.
The company has a market cap of $110.21, a P/E ratio of 7.45 and a beta of 1.34. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.75.
CM Finance (NASDAQ:CMFN) last issued its earnings results on Tuesday, November 7th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The business had revenue of $6.73 million for the quarter, compared to the consensus estimate of $7.48 million. CM Finance had a net margin of 74.32% and a return on equity of 8.75%. sell-side analysts forecast that CM Finance Inc will post 1 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Friday, December 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.90%. The ex-dividend date is Thursday, December 14th. CM Finance’s dividend payout ratio (DPR) is presently 60.98%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. bought a new stake in CM Finance during the 3rd quarter valued at approximately $459,000. Stephens Inc. AR raised its stake in CM Finance by 2.0% during the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after purchasing an additional 947 shares during the period. Caxton Corp raised its stake in CM Finance by 3.6% during the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after purchasing an additional 1,898 shares during the period. Ares Management LLC raised its stake in CM Finance by 55.2% during the 2nd quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock valued at $1,056,000 after purchasing an additional 37,596 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in CM Finance by 1,788.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 141,620 shares of the investment management company’s stock valued at $1,310,000 after purchasing an additional 134,120 shares during the period. 45.39% of the stock is currently owned by institutional investors.
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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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