Investcorp Credit Management BDC (NASDAQ:ICMB) Shares Up 4.4% – Here’s What Happened

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB)’s stock price shot up 4.4% on Monday. The company traded as high as $0.86 and last traded at $0.7305. Approximately 885,210 shares were traded during trading, an increase of 1,429% from the average daily volume of 57,876 shares. The stock had previously closed at $0.70.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Investcorp Credit Management BDC Price Performance

The company has a debt-to-equity ratio of 2.20, a quick ratio of 7.28 and a current ratio of 7.28. The firm has a fifty day simple moving average of $0.80 and a two-hundred day simple moving average of $1.55. The firm has a market cap of $10.54 million, a PE ratio of -0.51 and a beta of 0.68.

Investcorp Credit Management BDC (NASDAQ:ICMB) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.07). Investcorp Credit Management BDC had a positive return on equity of 0.86% and a negative net margin of 134.21%. The firm had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $4.70 million.

Hedge Funds Weigh In On Investcorp Credit Management BDC

Institutional investors have recently bought and sold shares of the business. Bulldog Investors LLP grew its stake in shares of Investcorp Credit Management BDC by 7.7% in the 1st quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock worth $967,000 after buying an additional 42,583 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Investcorp Credit Management BDC during the 2nd quarter valued at about $45,000. Squarepoint Ops LLC purchased a new stake in shares of Investcorp Credit Management BDC during the 2nd quarter valued at about $34,000. Finally, North Ground Capital bought a new position in shares of Investcorp Credit Management BDC in the 2nd quarter valued at about $32,760. Institutional investors own 7.76% of the company’s stock.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC, Inc (NASDAQ: ICMB) is a business development company that provides financing to privately held, middle-market companies in the United States. The company seeks to generate income primarily through investments in debt securities, while also pursuing opportunities for long-term capital appreciation.

Its investment portfolio may include senior secured first-lien and second-lien loans, subordinated debt, mezzanine financing and, in some cases, equity-related investments.