Investcorp Credit Management BDC (NASDAQ:ICMB) Stock Falls 10.4% – Here’s Why

Shares of Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) fell 10.4% during trading on Monday. The company traded as low as $0.6860 and last traded at $0.7080. Approximately 70,823 shares traded hands during trading, an increase of 178% from the average daily volume of 25,437 shares. The stock had previously closed at $0.79.

Analyst Upgrades and Downgrades

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

Investcorp Credit Management BDC Stock Performance

The firm’s 50 day simple moving average is $0.84 and its 200-day simple moving average is $1.19. The company has a market capitalization of $10.22 million, a price-to-earnings ratio of -0.50 and a beta of 0.68. The company has a debt-to-equity ratio of 2.20, a quick ratio of 7.28 and a current ratio of 7.28.

Investcorp Credit Management BDC (NASDAQ:ICMB) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). The business had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $4.70 million. Investcorp Credit Management BDC had a negative net margin of 134.21% and a positive return on equity of 0.86%.

Hedge Funds Weigh In On Investcorp Credit Management BDC

A number of large investors have recently made changes to their positions in ICMB. Bulldog Investors LLP boosted its holdings in shares of Investcorp Credit Management BDC by 7.7% during the first quarter. Bulldog Investors LLP now owns 596,780 shares of the company’s stock worth $967,000 after purchasing an additional 42,583 shares during the period. Susquehanna International Group LLP acquired a new position in Investcorp Credit Management BDC in the 2nd quarter valued at approximately $45,000. Squarepoint Ops LLC acquired a new position in Investcorp Credit Management BDC in the 2nd quarter valued at approximately $34,000. North Ground Capital purchased a new stake in Investcorp Credit Management BDC in the 2nd quarter worth approximately $32,760. Finally, Alpine Global Management LLC purchased a new stake in Investcorp Credit Management BDC in the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 7.76% of the company’s stock.

Investcorp Credit Management BDC Company Profile

Investcorp Credit Management BDC, Inc is a business development company that provides financing to privately held, middle-market companies. The company seeks to generate income primarily through investments in debt securities, while also pursuing potential capital appreciation through equity and equity-related investments.

Its investment portfolio may include senior secured, first-lien and unitranche loans, as well as second-lien debt and other subordinated securities. Investcorp Credit Management BDC generally focuses on companies that may require customized financing for acquisitions, recapitalizations, growth initiatives, refinancings and other corporate purposes.

The company is externally managed by Investcorp Credit Management LLC, an affiliate of Investcorp, a global alternative investment firm.