Trading was heavy with 63K shares changing hands in the last trading session. Overall, volume was up 85.86% over the stocks normal daily volume.
Traders are feeling more bullish on shares of the company if you look at the decrease in short interest. The company had a fall in short interest of -43.86% between September 29, 2017 and October 13, 2017. Short interest decreased from 18,605 to 10,444 over that period. Days to cover decreased -1.0 to 0.0 and the short interest percentage is 0.00% as of October 13.
These funds have shifted positions in (CMFN). As of the end of the quarter Ares Management LLC had bought 32,893 shares growing its position 31.1%. The value of the total investment in Cm Finance Cmn increased from $1,056,000 to $1,296,000 a change of 22.7% for the reporting period. As of quarter end Raymond James & Associates had disposed of a total of 17,151 shares trimming its stake by 5.0%. The value of the company’s investment in Cm Finance Cmn went from $3,462,000 to $3,077,000 decreasing 11.1% quarter to quarter.
Morgan Stanley added to its stake by buying 4,842 shares an increase of 211.3% as of 09/30/2017. Morgan Stanley owns 7,133 shares valued at $67,000. The value of the position overall is up by 191.3%. As of quarter end Eagle Global Advisors LLC had sold a total of 16,858 shares trimming its holdings by 61.9%. The value in dollars decreased from $272,000 to $97,000 a change of $175,000 since the last quarter.
The company is down from yesterday’s close of 8.3. The P/E ratio is currently 4.98 and the market value is 111.58M. As of the latest earnings report the EPS was $1.64 with 13.69M shares outstanding.
CM Finance Inc, launched on May 28, 2013, 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 Business’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. As of June 30, 2016, the Business’s portfolio consisted of debt and equity investments in 22 portfolio companies. The Business’s subsidiary is CM Finance SPV Ltd. (CM SPV). CM Investment Partners LLC is an external investment advisor of the Company..