Stephens Inc. AR decreased its position in shares of CM Finance Inc (NASDAQ:CMFN) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,961 shares of the investment management company’s stock after selling 8,020 shares during the period. Stephens Inc. AR owned 0.28% of CM Finance worth $318,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMFN. Macquarie Group Ltd. acquired a new stake in CM Finance during the third quarter valued at $459,000. JPMorgan Chase & Co. boosted its position in CM Finance by 1,788.3% during the third quarter. JPMorgan Chase & Co. now owns 141,620 shares of the investment management company’s stock valued at $1,310,000 after purchasing an additional 134,120 shares during the last quarter. Finally, Caxton Corp boosted its position in CM Finance by 11.5% during the third quarter. Caxton Corp now owns 61,429 shares of the investment management company’s stock valued at $574,000 after purchasing an additional 6,327 shares during the last quarter. 44.91% of the stock is owned by hedge funds and other institutional investors.
CM Finance Inc (NASDAQ:CMFN) opened at $7.90 on Thursday. CM Finance Inc has a 1-year low of $7.40 and a 1-year high of $10.80. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $108.16, a PE ratio of 7.98 and a beta of 1.27.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.00 annualized dividend and a yield of 12.66%. CM Finance’s dividend payout ratio (DPR) is currently 72.99%.
A number of analysts recently issued reports on CMFN shares. ValuEngine raised CM Finance from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. UBS Group cut CM Finance from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. Redburn Partners cut CM Finance from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. Raymond James Financial cut CM Finance from an “outperform” rating to a “market perform” rating in a research report on Friday, February 9th. Finally, TheStreet cut CM Finance from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $11.00.
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About CM Finance
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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