Investcorp Credit Management BDC (NASDAQ:ICMB) Shares Cross Above Fifty Day Moving Average on Disappointing Earnings

Shares of Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) passed above its fifty day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a fifty day moving average of $0.76 and traded as high as $1.15. Investcorp Credit Management BDC shares last traded at $1.06, with a volume of 67,423,283 shares traded.

The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.17). The business had revenue of $3.14 million for the quarter, compared to analyst estimates of $4.61 million. Investcorp Credit Management BDC had a negative return on equity of 3.32% and a negative net margin of 171.03%.

Analyst Ratings Changes

Separately, Weiss Ratings cut Investcorp Credit Management BDC from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in shares of Investcorp Credit Management BDC in the second quarter valued at $34,000. Susquehanna International Group LLP purchased a new stake in shares of Investcorp Credit Management BDC in the 2nd quarter valued at $45,000. North Ground Capital purchased a new stake in shares of Investcorp Credit Management BDC in the 2nd quarter valued at $32,760. Finally, Bulldog Investors LLP raised its holdings in shares of Investcorp Credit Management BDC by 7.7% in the 1st quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock valued at $967,000 after buying an additional 42,583 shares during the period. 7.76% of the stock is currently owned by hedge funds and other institutional investors.

Investcorp Credit Management BDC Trading Up 71.5%

The company has a 50 day moving average of $0.76 and a 200-day moving average of $1.41. The company has a debt-to-equity ratio of 2.20, a quick ratio of 7.28 and a current ratio of 7.28. The stock has a market cap of $15.30 million, a price-to-earnings ratio of -0.64 and a beta of 0.72.

About Investcorp Credit Management BDC

Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) is a business development company that provides financing to privately held, middle-market companies in the United States. The company seeks to generate income primarily through investments in debt securities, while also pursuing opportunities for long-term capital appreciation. Its investment portfolio may include senior secured first-lien and second-lien loans, subordinated debt, mezzanine financing and, in some cases, equity-related investments.