Investcorp Credit Management BDC (NASDAQ:ICMB) Trading Down 11.4% – Here’s What Happened
by Teresa Graham · The Cerbat GemInvestcorp Credit Management BDC, Inc. (NASDAQ:ICMB – Get Free Report) traded down 11.4% during mid-day trading on Wednesday . The stock traded as low as $1.78 and last traded at $1.78. 57,465 shares were traded during trading, a decline of 12% from the average session volume of 65,173 shares. The stock had previously closed at $2.01.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Investcorp Credit Management BDC in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.
Read Our Latest Report on Investcorp Credit Management BDC
Investcorp Credit Management BDC Price Performance
The stock has a market capitalization of $25.67 million, a P/E ratio of -2.87 and a beta of 0.62. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 2.01. The company has a fifty day simple moving average of $2.25 and a two-hundred day simple moving average of $2.63.
Investcorp Credit Management BDC (NASDAQ:ICMB – Get Free Report) last announced its quarterly earnings data on Monday, March 30th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $4.22 million. Investcorp Credit Management BDC had a positive return on equity of 2.64% and a negative net margin of 50.86%.
Institutional Trading of Investcorp Credit Management BDC
A number of institutional investors and hedge funds have recently modified their holdings of ICMB. Alpine Global Management LLC bought a new stake in shares of Investcorp Credit Management BDC in the 4th quarter valued at about $71,000. North Ground Capital acquired a new position in shares of Investcorp Credit Management BDC in the 4th quarter valued at approximately $147,000. Finally, Bulldog Investors LLP grew its position in shares of Investcorp Credit Management BDC by 45.8% in the 3rd quarter. Bulldog Investors LLP now owns 522,752 shares of the company’s stock valued at $1,453,000 after purchasing an additional 164,281 shares during the period. 7.76% of the stock is owned by institutional investors.
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.