JPMorgan Chase & Co. raised its stake in CM Finance Inc (NASDAQ:CMFN) by 1,788.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,620 shares of the investment management company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CMFN. Stephens Inc. AR grew its stake in CM Finance by 2.0% during the 2nd quarter. Stephens Inc. AR now owns 49,165 shares of the investment management company’s stock worth $492,000 after buying an additional 947 shares during the last quarter. Caxton Corp grew its stake in CM Finance by 3.6% during the 2nd quarter. Caxton Corp now owns 55,102 shares of the investment management company’s stock worth $551,000 after buying an additional 1,898 shares during the last quarter. Ares Management LLC grew its stake in CM Finance by 55.2% during the 2nd quarter. Ares Management LLC now owns 105,696 shares of the investment management company’s stock worth $1,056,000 after buying an additional 37,596 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in CM Finance during the 3rd quarter worth approximately $459,000. 44.96% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on CMFN shares. ValuEngine upgraded CM Finance from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. TheStreet downgraded CM Finance from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st.
Shares of CM Finance Inc (NASDAQ:CMFN) remained flat at $$8.05 during mid-day trading on Friday. The company’s stock had a trading volume of 17,707 shares, compared to its average volume of 33,712. CM Finance Inc has a 12-month low of $7.40 and a 12-month high of $10.80. The stock has a market capitalization of $110.21, a price-to-earnings ratio of 4.91 and a beta of 1.27. 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 released its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). The company had revenue of $6.73 million during the quarter, compared to analyst estimates of $7.48 million. CM Finance had a return on equity of 8.75% and a net margin of 74.32%. research analysts forecast that CM Finance Inc will post 1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.42%. The ex-dividend date of this dividend was Thursday, December 14th. CM Finance’s dividend payout ratio is currently 60.98%.
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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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