CM Finance (NASDAQ:CMFN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $8.75 price target on the investment management company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.64% from the company’s previous close.
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 upgraded shares of CM Finance from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th.
Shares of CMFN stock traded down $0.10 during trading on Friday, hitting $7.70. The company had a trading volume of 27,619 shares, compared to its average volume of 37,010. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.86. The stock has a market cap of $106.73 million, a price-to-earnings ratio of 5.54 and a beta of 1.46. CM Finance has a 52 week low of $5.58 and a 52 week high of $9.90.
CM Finance (NASDAQ:CMFN) last posted its quarterly earnings data on Wednesday, February 6th. The investment management company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $9.30 million for the quarter, compared to analysts’ expectations of $8.80 million. CM Finance had a negative net margin of 0.75% and a positive return on equity of 11.60%. As a group, sell-side analysts forecast that CM Finance will post 1.02 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CMFN. Eagle Global Advisors LLC raised its holdings in 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 worth $72,000 after purchasing an additional 1,450 shares in the last quarter. Stephens Inc. AR grew its position in CM Finance by 8.5% in the fourth quarter. Stephens Inc. AR now owns 29,700 shares of the investment management company’s stock worth $186,000 after buying an additional 2,327 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in CM Finance by 40.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 27,759 shares of the investment management company’s stock worth $173,000 after purchasing an additional 8,000 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CM Finance by 123.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 15,222 shares of the investment management company’s stock worth $131,000 after purchasing an additional 8,411 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in CM Finance by 42.9% during the 3rd quarter. Acadian Asset Management LLC now owns 28,776 shares of the investment management company’s stock worth $248,000 after purchasing an additional 8,644 shares in the last quarter. Institutional investors and hedge funds own 50.21% of the company’s stock.
About CM Finance
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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