Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Price Down 3.5% – Here’s What Happened

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) shares traded down 3.5% during trading on Tuesday . The stock traded as low as $2.66 and last traded at $2.73. 67,000 shares changed hands during mid-day trading, an increase of 90% from the average session volume of 35,288 shares. The stock had previously closed at $2.83.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Investcorp Credit Management BDC in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Investcorp Credit Management BDC currently has a consensus rating of “Sell”.

Investcorp Credit Management BDC Stock Down 3.5%

The company’s 50 day moving average price is $2.83 and its two-hundred day moving average price is $2.84. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.75. The firm has a market cap of $39.37 million, a PE ratio of -273.00 and a beta of 0.41.

Investcorp Credit Management BDC (NASDAQ:ICMB) last announced its earnings results on Wednesday, November 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Investcorp Credit Management BDC had a positive return on equity of 3.33% and a negative net margin of 0.30%.The company had revenue of $4.36 million during the quarter, compared to the consensus estimate of $4.41 million.

Investcorp Credit Management BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, December 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date of this dividend was Monday, December 1st. Investcorp Credit Management BDC’s payout ratio is presently -4,800.00%.

Institutional Investors Weigh In On Investcorp Credit Management BDC

A hedge fund recently bought a new stake in Investcorp Credit Management BDC stock. Westbourne Investments Inc. acquired a new stake in Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,000 shares of the company’s stock, valued at approximately $100,000. Westbourne Investments Inc. owned approximately 0.22% of Investcorp Credit Management BDC as of its most recent SEC filing. 7.76% of the stock is owned by institutional investors.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC Inc (NASDAQ: ICMB) is a closed-end, non-diversified management investment company that provides investors exposure to private credit markets through direct lending strategies. As a business development company, ICMB focuses on originating, structuring and managing tailored financing solutions for U.S. middle-market corporations. The company’s portfolio includes senior secured loans, second-lien debt, subordinated debt and equity co-investments, with an emphasis on risk-adjusted returns and capital preservation.

The company is externally managed by Investcorp Credit Management US LLC, part of the Investcorp group, a global alternative investment firm founded in 1982.