CM Finance Inc (NASDAQ:CMFN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $11.00 price target on the investment management company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.82% from the company’s previous close.

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. “

Shares of CM Finance (NASDAQ CMFN) remained flat at $9.75 on Friday. 48,723 shares of the stock were exchanged. CM Finance has a 52 week low of $8.50 and a 52 week high of $10.80. The firm’s 50-day moving average is $10.07 and its 200 day moving average is $10.20.

CM Finance (NASDAQ:CMFN) last posted its earnings results on Wednesday, September 6th. The investment management company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The firm had revenue of $7.19 million during the quarter, compared to the consensus estimate of $7.40 million. CM Finance had a net margin of 76.03% and a return on equity of 9.48%. Analysts forecast that CM Finance will post $1.07 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its holdings in shares of CM Finance by 0.7% in the 1st quarter. Stifel Financial Corp now owns 36,556 shares of the investment management company’s stock worth $367,000 after acquiring an additional 251 shares during the last quarter. Stephens Inc. AR increased its stake in shares of CM Finance by 2.0% in the second 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 period. Caxton Corp increased its stake in shares of CM Finance by 3.6% in the second 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 period. Eagle Global Advisors LLC increased its stake in shares of CM Finance by 19.8% in the second quarter. Eagle Global Advisors LLC now owns 27,217 shares of the investment management company’s stock worth $272,000 after buying an additional 4,500 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of CM Finance by 5.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 105,232 shares of the investment management company’s stock worth $1,068,000 after buying an additional 5,014 shares during the period. Institutional investors and hedge funds own 44.11% of the company’s stock.

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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