Raymond James Financial Services Advisors Inc. lowered its position in shares of CM Finance Inc (NASDAQ:CMFN) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,511 shares of the investment management company’s stock after selling 10,392 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.65% of CM Finance worth $730,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in CM Finance during the third quarter valued at approximately $459,000. Caxton Corp grew its holdings 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 period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CM Finance by 1,788.3% in the third quarter. JPMorgan Chase & Co. now owns 141,620 shares of the investment management company’s stock valued at $1,310,000 after buying an additional 134,120 shares during the period. Hedge funds and other institutional investors own 45.59% of the company’s stock.
CMFN stock traded up $0.10 during trading on Wednesday, hitting $8.45. 6,746 shares of the stock traded hands, compared to its average volume of 27,513. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $110.22, a PE ratio of 6.13 and a beta of 1.21. CM Finance Inc has a 12 month low of $7.40 and a 12 month high of $10.80.
CM Finance (NASDAQ:CMFN) last announced its quarterly earnings data on Wednesday, February 7th. The investment management company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $8.45 million for the quarter, compared to analyst estimates of $7.67 million. CM Finance had a net margin of 63.54% and a return on equity of 7.98%. equities research analysts forecast that CM Finance Inc will post 1.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Friday, March 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.83%. The ex-dividend date is Thursday, March 15th. CM Finance’s dividend payout ratio is presently 72.99%.
Several research analysts have recently weighed in on the stock. TheStreet cut shares of CM Finance from a “b-” rating to a “c+” rating in a report on Tuesday, November 21st. ValuEngine cut shares of CM Finance from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Redburn Partners cut shares of CM Finance from an “outperform” rating to a “market perform” rating in a report on Friday, February 9th. Raymond James Financial cut shares of CM Finance from an “outperform” rating to a “market perform” rating in a report on Friday, February 9th. Finally, UBS cut shares of CM Finance from an “outperform” rating to a “market perform” rating in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $11.00.
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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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