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

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. The stock had a trading volume of 48,723 shares. CM Finance has a 1-year low of $8.50 and a 1-year high of $10.80. The company’s 50-day moving average is $10.07 and its 200-day moving average is $10.20.

CM Finance (NASDAQ:CMFN) last issued its quarterly earnings results on Wednesday, September 6th. The investment management company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $7.19 million during the quarter, compared to analysts’ expectations of $7.40 million. CM Finance had a return on equity of 9.48% and a net margin of 76.03%. Equities research analysts predict that CM Finance will post $1.07 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in CMFN. Ares Management LLC grew 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 worth $1,056,000 after purchasing an additional 37,596 shares in the last quarter. UBS Group AG grew its position in shares of CM Finance by 23.3% during the first quarter. UBS Group AG now owns 184,656 shares of the investment management company’s stock worth $1,874,000 after purchasing an additional 34,840 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of CM Finance during the first quarter worth about $133,000. Eagle Global Advisors LLC grew its position in shares of CM Finance by 30.0% during the first quarter. Eagle Global Advisors LLC now owns 22,717 shares of the investment management company’s stock worth $231,000 after purchasing an additional 5,240 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of CM Finance by 5.0% during 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 purchasing an additional 5,014 shares in the last quarter. Hedge funds and other institutional investors 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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