Investcorp Credit Management BDC (NASDAQ:ICMB) Trading Down 0.4% – Here’s Why

Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) shares were down 0.4% on Thursday . The stock traded as low as $2.77 and last traded at $2.78. Approximately 35,664 shares changed hands during mid-day trading, an increase of 103% from the average daily volume of 17,541 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Investcorp Credit Management BDC in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Investcorp Credit Management BDC Stock Down 0.4%

The stock has a market cap of $40.09 million, a price-to-earnings ratio of -278.00 and a beta of 0.42. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.47 and a current ratio of 1.47. The firm’s 50-day simple moving average is $2.81 and its two-hundred day simple moving average is $2.83.

Investcorp Credit Management BDC (NASDAQ:ICMB) last announced its earnings results on Wednesday, November 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $4.36 million for the quarter, compared to analyst estimates of $4.41 million. Investcorp Credit Management BDC had a positive return on equity of 3.33% and a negative net margin of 0.30%.

Investcorp Credit Management BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, December 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 17.3%. The ex-dividend date was Monday, December 1st. Investcorp Credit Management BDC’s dividend payout ratio (DPR) is presently -4,800.00%.

Hedge Funds Weigh In On Investcorp Credit Management BDC

A hedge fund recently raised its stake in Investcorp Credit Management BDC stock. Bulldog Investors LLP increased its position in Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) by 45.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 522,752 shares of the company’s stock after purchasing an additional 164,281 shares during the quarter. Bulldog Investors LLP owned approximately 3.63% of Investcorp Credit Management BDC worth $1,453,000 as of its most recent SEC filing. Institutional investors and hedge funds own 7.76% of the company’s stock.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC Inc (NASDAQ: ICMB) is a closed-end, non-diversified management investment company that provides investors exposure to private credit markets through direct lending strategies. As a business development company, ICMB focuses on originating, structuring and managing tailored financing solutions for U.S. middle-market corporations. The company’s portfolio includes senior secured loans, second-lien debt, subordinated debt and equity co-investments, with an emphasis on risk-adjusted returns and capital preservation.

The company is externally managed by Investcorp Credit Management US LLC, part of the Investcorp group, a global alternative investment firm founded in 1982.