CM Finance (CMFN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of CM Finance (NASDAQ:CMFN) from a buy rating to a hold rating in a research note published on Friday, Zacks.com reports.

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 raised shares of CM Finance from a sell rating to a hold rating in a report on Thursday, January 24th.

Shares of CMFN opened at $7.29 on Friday. The company has a quick ratio of 1.77, a current ratio of 0.16 and a debt-to-equity ratio of 0.24. CM Finance has a 12-month low of $5.58 and a 12-month high of $9.90. The stock has a market capitalization of $99.97 million, a P/E ratio of 5.24 and a beta of 1.41.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.72%. The ex-dividend date is Thursday, June 13th. CM Finance’s dividend payout ratio (DPR) is presently 71.94%.

Hedge funds have recently made changes to their positions in the business. Deutsche Bank AG boosted its stake in CM Finance by 56.3% during the fourth quarter. Deutsche Bank AG now owns 7,493 shares of the investment management company’s stock worth $46,000 after buying an additional 2,700 shares during the period. Two Sigma Securities LLC purchased a new position in CM Finance during the fourth quarter worth about $70,000. Eagle Global Advisors LLC boosted its stake 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 buying an additional 1,450 shares during the period. Oppenheimer & Co. Inc. boosted its stake in CM Finance by 40.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 27,759 shares of the investment management company’s stock worth $173,000 after buying an additional 8,000 shares during the period. Finally, Stephens Inc. AR boosted its stake in CM Finance by 8.5% during 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 period. 51.01% of the stock is owned by institutional investors.

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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