InvestcorpCreditManagementBDCInc . (NASDAQ:ICMB) Rating Lowered to Sell at Zacks Investment Research

InvestcorpCreditManagementBDCInc . (NASDAQ:ICMB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “Investcorp Credit Management BDC Inc. is a business development company. It invests primarily in the debt of U.S. middle-market companies. Investcorp Credit Management BDC Inc., formerly known as CM Finance Inc., is based in New York, United States. “

Separately, ValuEngine lowered shares of InvestcorpCreditManagementBDCInc . from a “hold” rating to a “sell” rating in a report on Thursday.

NASDAQ:ICMB opened at $7.44 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.99 and a current ratio of 2.99. The company has a market cap of $98.37 million, a price-to-earnings ratio of -22.55 and a beta of 1.32. InvestcorpCreditManagementBDCInc . has a fifty-two week low of $6.13 and a fifty-two week high of $8.13. The company’s 50-day moving average price is $7.05.

InvestcorpCreditManagementBDCInc . (NASDAQ:ICMB) last issued its earnings results on Tuesday, February 11th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. InvestcorpCreditManagementBDCInc . had a negative net margin of 13.00% and a positive return on equity of 9.45%. The firm had revenue of $9.43 million for the quarter, compared to the consensus estimate of $8.71 million. Sell-side analysts anticipate that InvestcorpCreditManagementBDCInc . will post 1.01 EPS for the current fiscal year.

In related news, Director Thomas J. Sullivan purchased 10,000 shares of InvestcorpCreditManagementBDCInc . stock in a transaction dated Thursday, December 19th. The stock was purchased at an average cost of $7.10 per share, for a total transaction of $71,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $71,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bdc Holdings Ltd Investcorp purchased 5,015 shares of InvestcorpCreditManagementBDCInc . stock in a transaction dated Monday, December 9th. The stock was bought at an average price of $7.23 per share, with a total value of $36,258.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 84,923 shares of company stock worth $600,460. Corporate insiders own 1.66% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System purchased a new stake in InvestcorpCreditManagementBDCInc . in the third quarter worth approximately $243,000. Oppenheimer & Co. Inc. purchased a new stake in InvestcorpCreditManagementBDCInc . during the 3rd quarter valued at $236,000. Virtus ETF Advisers LLC lifted its holdings in shares of InvestcorpCreditManagementBDCInc . by 11.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 312,253 shares of the company’s stock valued at $2,092,000 after buying an additional 32,577 shares during the period. Stephens Inc. AR bought a new position in shares of InvestcorpCreditManagementBDCInc . during the 3rd quarter valued at $139,000. Finally, Squarepoint Ops LLC purchased a new position in shares of InvestcorpCreditManagementBDCInc . in the 3rd quarter worth $97,000. Institutional investors own 44.33% of the company’s stock.

InvestcorpCreditManagementBDCInc . 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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