CM Finance (CMFN) Lifted to Strong-Buy at Zacks Investment Research

Share on StockTwits

Zacks Investment Research upgraded shares of CM Finance (NASDAQ:CMFN) from a hold rating to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports. Zacks Investment Research currently has $8.50 price objective on the investment management company’s stock.

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 note on Thursday, January 24th.

CM Finance stock opened at $7.36 on Monday. The firm has a market capitalization of $99.42 million, a P/E ratio of 5.29 and a beta of 1.41. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.24. CM Finance has a 1-year low of $5.58 and a 1-year high of $9.90.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.59%. The ex-dividend date is Thursday, June 13th. CM Finance’s dividend payout ratio is currently 71.94%.

A number of hedge funds have recently made changes to their positions in CMFN. Oppenheimer & Co. Inc. lifted its stake in shares of 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 buying an additional 8,000 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of CM Finance by 8.5% during the 4th 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. Eagle Global Advisors LLC lifted its stake in shares of CM Finance by 14.4% during the 4th 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 last quarter. Confluence Investment Management LLC lifted its stake in shares of CM Finance by 54.4% during the 1st quarter. Confluence Investment Management LLC now owns 246,171 shares of the investment management company’s stock worth $1,817,000 after buying an additional 86,785 shares during the last quarter. Finally, Advantage Investment Management LLC lifted its stake in shares of CM Finance by 41.7% during the 1st quarter. Advantage Investment Management LLC now owns 33,676 shares of the investment management company’s stock worth $249,000 after buying an additional 9,909 shares during the last quarter. Hedge funds and other institutional investors own 51.03% of the company’s stock.

CM Finance 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.

Further Reading: What is an overbought condition?

Get a free copy of the Zacks research report on CM Finance (CMFN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CM Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CM Finance and related companies with MarketBeat.com's FREE daily email newsletter.