Macquarie Group Ltd. bought a new position in CM Finance Inc (NASDAQ:CMFN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 49,132 shares of the investment management company’s stock, valued at approximately $459,000. Macquarie Group Ltd. owned about 0.36% of CM Finance at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ares Management LLC increased its stake in CM Finance by 55.2% in the 2nd quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock valued at $1,056,000 after buying an additional 37,596 shares during the last quarter. Stephens Inc. AR increased its stake in CM Finance by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after buying an additional 947 shares during the last quarter. Finally, Caxton Corp increased its stake in CM Finance by 3.6% in the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after buying an additional 1,898 shares during the last quarter. Institutional investors own 45.39% of the company’s stock.
Shares of CM Finance Inc (CMFN) opened at $8.10 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.91 and a quick ratio of 5.91. The company has a market cap of $114.32, a PE ratio of 7.73 and a beta of 1.34. CM Finance Inc has a one year low of $8.00 and a one year high of $10.80.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 12.35%. CM Finance’s payout ratio is currently 60.98%.
Several research firms have commented on CMFN. Zacks Investment Research upgraded shares of CM Finance from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Friday, September 8th. ValuEngine upgraded shares of CM Finance from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, TheStreet lowered shares of CM Finance from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st.
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CM Finance Company Profile
CM Finance Inc is an externally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that invests primarily in the debt of the United States middle-market companies. The Company’s primary investment objective is to maximize total return to stockholders in the form of current income and capital appreciation by investing in debt and related equity of privately held lower middle-market companies.
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