JPMorgan Chase & Co. boosted its stake in CM Finance Inc (NASDAQ:CMFN) by 1,788.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,620 shares of the investment management company’s stock after acquiring an additional 134,120 shares during the period. JPMorgan Chase & Co. owned about 1.03% of CM Finance worth $1,310,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ares Management LLC lifted its position in CM Finance by 55.2% in the second quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock valued at $1,056,000 after acquiring an additional 37,596 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in CM Finance in the third quarter valued at $459,000. Stephens Inc. AR lifted its position in CM Finance by 2.0% in the second quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock valued at $492,000 after acquiring an additional 947 shares during the last quarter. Finally, Caxton Corp lifted its position in CM Finance by 3.6% in the second quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock valued at $551,000 after acquiring an additional 1,898 shares during the last quarter. 45.39% of the stock is owned by hedge funds and other institutional investors.
Shares of CM Finance Inc (CMFN) opened at $8.27 on Thursday. CM Finance Inc has a 1 year low of $7.40 and a 1 year high of $10.80. The firm has a market cap of $113.29, a price-to-earnings ratio of 5.04 and a beta of 1.34. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.75.
CM Finance (NASDAQ:CMFN) last announced its earnings results on Tuesday, November 7th. The investment management company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). CM Finance had a net margin of 74.32% and a return on equity of 8.75%. The business had revenue of $6.73 million during the quarter, compared to analysts’ expectations of $7.48 million. equities analysts predict that CM Finance Inc will post 1 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.09%. CM Finance’s payout ratio is 60.98%.
A number of brokerages recently weighed in on CMFN. ValuEngine raised shares of CM Finance from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet cut shares of CM Finance from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st.
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CM Finance 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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