Zacks Investment Research upgraded shares of CM Finance (NASDAQ:CMFN) from a hold rating to a strong-buy rating in a research report released on Monday, Zacks.com reports. The firm currently has $8.50 target price on the investment management company’s stock.

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. “

Separately, ValuEngine lowered shares of CM Finance from a hold rating to a sell rating in a research report on Monday, January 14th.

Shares of NASDAQ:CMFN opened at $7.40 on Monday. The firm has a market capitalization of $100.65 million, a P/E ratio of 5.32 and a beta of 1.41. CM Finance has a 1 year low of $5.58 and a 1 year high of $9.90. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.16 and a quick ratio of 0.16.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.51%. The ex-dividend date of this dividend is Thursday, June 13th. CM Finance’s dividend payout ratio is 71.94%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its position in shares of CM Finance by 56.3% during the fourth quarter. Deutsche Bank AG now owns 7,493 shares of the investment management company’s stock valued at $46,000 after buying an additional 2,700 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of CM Finance during the fourth quarter valued at about $70,000. Eagle Global Advisors LLC raised its position in shares of CM Finance by 14.4% during the fourth quarter. Eagle Global Advisors LLC now owns 11,500 shares of the investment management company’s stock valued at $72,000 after buying an additional 1,450 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of CM Finance by 40.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 27,759 shares of the investment management company’s stock valued at $173,000 after buying an additional 8,000 shares during the last quarter. Finally, Stephens Inc. AR raised its position in shares of CM Finance by 8.5% during the fourth quarter. Stephens Inc. AR now owns 29,700 shares of the investment management company’s stock valued at $186,000 after buying an additional 2,327 shares during the last quarter. 51.03% of the stock is owned by institutional investors and hedge funds.

CM Finance Company Profile

CM Finance Inc is a business development company specializing in loan, mezzanine, middle market, growth capital, and recapitalization investments. The fund typically invests in United States and Europe. Within United States, the fund seeks to invest in Midatlantic, Midwest, Northeast, Southeast, and West Coast regions.

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