CM Finance Inc (CMFN) Position Cut by Confluence Investment Management LLC
Confluence Investment Management LLC reduced its position in shares of CM Finance Inc (NASDAQ:CMFN) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 199,633 shares of the investment management company’s stock after selling 21,418 shares during the quarter. Confluence Investment Management LLC’s holdings in CM Finance were worth $1,627,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ares Management LLC increased its position in shares of CM Finance by 55.2% during 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. acquired a new stake in shares of CM Finance during the third quarter valued at about $459,000. Caxton Corp increased its position in shares of 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 acquiring an additional 6,327 shares during the last quarter. Stephens Inc. AR increased its position in shares of CM Finance by 2.0% during 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, JPMorgan Chase & Co. increased its position in shares of 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 acquiring an additional 134,120 shares during the last quarter. Hedge funds and other institutional investors own 45.39% of the company’s stock.
CM Finance Inc (NASDAQ CMFN) opened at $8.27 on Thursday. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.75. The firm has a market cap of $113.29, a P/E ratio of 5.04 and a beta of 1.34. CM Finance Inc has a twelve month low of $7.40 and a twelve month high of $10.80.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Friday, December 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.09%. The ex-dividend date of this dividend was Thursday, December 14th. CM Finance’s dividend payout ratio (DPR) is currently 60.98%.
CMFN has been the subject of a number of recent analyst reports. TheStreet cut shares of CM Finance from a “b-” rating to a “c+” rating in a research report on Tuesday, November 21st. ValuEngine upgraded shares of CM Finance from a “hold” rating to a “buy” rating in a research report on Friday, December 1st.
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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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